**Dividends Per Share Calculation**Internal Insights Inc., a developer of radiology equipment, has the following stock outstanding: 15,000 shares of cumulative preferred 1% stock, $120 par, and 50,000 shares of $15 par common stock. During the first four years of operations, the following amounts were distributed as dividends:- First Year: $12,000- Second Year: $34,000- Third Year: $51,200- Fourth Year: $90,500**Task:**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.| | 1st Year | 2nd Year | 3rd Year | 4th Year ||----------------------|------------|------------|------------|------------|| Preferred stock | $ | $ | $ | $ || (dividend per share) | | | | || Common stock | $ | $ | $ | $ || (dividend per share) | | | | |**Instructions:**1. **Preferred stock dividend per share:** - Calculate 1% of the $120 par value for preferred shares. - Multiply by the number of preferred shares to find the total annual dividend requirement.2. **Common stock dividend per share:** - Subtract the preferred dividend from the total dividends distributed. - Divide the remaining amount by the number of common shares.Remember to round your calculations to two decimal places for clarity and precision in financial reporting.

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Description: **Dividends Per Share Calculation**Internal Insights Inc., a developer of radiology equipment, has the following stock outstanding: 15,000 shares of cumulative preferred 1% stock, $120 par, and 50,000 shares of $15 par common stock. During the first

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nds Per Share Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 15,000 shares of cumulative preferred 1% stock, $120 and 50,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $12.

nds Per Share Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 15,000 shares of cumulative preferred 1% stock, $120 and 50,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $12.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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