Oceanic Company has 25,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $25 par common stock. The following amounts were distributed as dividends: Year 1 $50,000 Year 2 10,000 Year 3 75,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ 2$ Common stock (Dividends per share) $4 $4

Oceanic Company has 25,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $25 par common stock. The following amounts were distributed as dividends: Year 1 $50,000 Year 2 10,000 Year 3 75,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ 2$ Common stock (Dividends per share) $4 $4

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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