Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $160 par, and 67,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $42,000; second year, $95,200; third year, $119,750; fourth year, $147,750. Compute the dividend 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, leave it blank. Preferred stock (dividend per share) Common stock (dividend per share) 1st Year 64,400 X X 2nd Year $ 137,600 X 0.15 ✔ 3rd Year 169,240 X 1.10 X 4th Year 193,150 X 1.45 X
Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $160 par, and 67,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $42,000; second year, $95,200; third year, $119,750; fourth year, $147,750. Compute the dividend 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, leave it blank. Preferred stock (dividend per share) Common stock (dividend per share) 1st Year 64,400 X X 2nd Year $ 137,600 X 0.15 ✔ 3rd Year 169,240 X 1.10 X 4th Year 193,150 X 1.45 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 20,000 shares of cumulative preferred 2%
stock, $160 par, and 67,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as
dividends: first year, $42,800; second year, $95,200; third year, $119,750; fourth year, $147,750.
Compute the dividend 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, leave it blank.
Preferred stock (dividend per share)
Common stock (dividend per share)
Feedback
1st Year
64,400 X
X
2nd Year
137,600 X
0.15 ✔
3rd Year
169,240 X
1.10 X
4th Year
$ 193,150 X
1.45 X
Check My Work
Is the preferred stock cumulative or non-cumulative stock? Determine the amount of current dividends that preferred stock should
receive per year. Is the question asking for a per' share amount or total amount per class of stock?
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