Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as f

Question

Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,300 shares of cumulative preferred 3% stock, $15 par, and 398,600 shares of $24 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $55,200 ; second year, $76,400 ; third year, $78,400 ; fourth year, $101,600 ?

Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".

Explanation / Answer

Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".

Preferred dividend Preferred dividend per share Common stock dividend Common stock dividend per share Total dividend First year 36135 0.45 19065 0.05 55200 second year 36135 0.45 40265 0.10 76400 Third year 36135 0.45 42265 0.11 78400 Fourth year 36135 0.45 65465 0.16 101600 Total 144540 167060 311600

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