Dividend Per Share Swilley Furniture Company has 50,000 shares of cumulative preferred 2% stock, $75 par, and 100,000 shares of $10 par common stock. The following amounts were distributed as dividends: Year 1 $45,000 Year 2 123,000 Year 3 130,000 Determine the dividend per share for preferred and common stock for each year. If an amount box does not require an entry, leave it blank. Round all answers to two decimal places. Year 1 Year 2 Year 3 Preferred stock (Dividend per share) 4.1 xS 1.9 x 0.9 V Common stock (Dividend per share) 0.4 X
Dividend Per Share Swilley Furniture Company has 50,000 shares of cumulative preferred 2% stock, $75 par, and 100,000 shares of $10 par common stock. The following amounts were distributed as dividends: Year 1 $45,000 Year 2 123,000 Year 3 130,000 Determine the dividend per share for preferred and common stock for each year. If an amount box does not require an entry, leave it blank. Round all answers to two decimal places. Year 1 Year 2 Year 3 Preferred stock (Dividend per share) 4.1 xS 1.9 x 0.9 V Common stock (Dividend per share) 0.4 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Dividend Per Share
Swilley Furniture Company has 50,000 shares of cumulative preferred 2% stock, $75 par, and 100,000 shares of $10 par common stock. The following amounts were distributed as dividends:
Year 1
$45,000
Year 2
123,000
Year 3
130,000
Determine the dividend per share for preferred and common stock for each year. If an amount box does not require an entry, leave it blank. Round all answers to two decimal places.
Year 1
Year 2
Year 3
Preferred stock (Dividend per
4.1 x $
1.9 x
share)
0.9
Common stock (Dividend per share)
$
0.4 x
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Determine the amount of current dividends that preferred stock should receive per year.
Keep in mind that the question is asking for dividend per share for each year and class of stock, rather than the total amount to be distributed to each class of stock.
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