On June 8, 2021, the board of directors of Peterson Manufacturing voted to distribute $3,140,000 to the firm's stockholders. If the firm has issued 200,000 shares of 4% preferred stock with a par value of $50 and 2,000,000 shares of common stock outstanding, calculate the following. (Round all answers to the nearest cent.) 1. Dividend per share of preferred stock: 2. Dividend per share of common stock: $0 $0 X S

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On June 8, 2021, the board of directors of Peterson Manufacturing voted to distribute $3,140,000 to the firm's stockholders.
If the firm has issued 200,000 shares of 4% preferred stock with a par value of $50 and 2,000,000 shares of common stock outstanding, calculate the
following. (Round all answers to the nearest cent.)
1. Dividend per share of preferred stock:
2. Dividend per share of common stock:
$0
$0
X
5
Transcribed Image Text:On June 8, 2021, the board of directors of Peterson Manufacturing voted to distribute $3,140,000 to the firm's stockholders. If the firm has issued 200,000 shares of 4% preferred stock with a par value of $50 and 2,000,000 shares of common stock outstanding, calculate the following. (Round all answers to the nearest cent.) 1. Dividend per share of preferred stock: 2. Dividend per share of common stock: $0 $0 X 5
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