**Dividends Per Share Calculation for Seventy-Two Inc.****Overview:**Seventy-Two Inc., a company specializing in radiology equipment, has 60,000 shares of cumulative preferred stock with a 3% dividend at $20 par value, and 400,000 shares of common stock at $25 par value. The company distributed dividends over four years as follows:- **1st Year:** $31,000- **2nd Year:** $75,000- **3rd Year:** $80,000- **4th Year:** $110,000The task is to determine the dividends per share for each class of stock for the four years. If no dividends are paid in a given year, enter "0.00". Round all answers to two decimal places.**Details:**- **Preferred Stock Dividends (per share):** - **1st Year:** $ \_\_\_ (Not provided) - **2nd Year:** $ \_\_\_ (Not provided) - **3rd Year:** $0.60 - **4th Year:** $0.60- **Common Stock Dividends (per share):** - **1st Year:** $ \_\_\_ (Not provided) - **2nd Year:** $ \_\_\_ (Not provided) - **3rd Year:** $0.00 (Not paid) - **4th Year:** $0.19**Important Note:**- The preferred stock has priority over common stock for dividend payments.- Common stock dividends are only paid after preferred dividends are fully distributed.

Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Answered: %24 %24 %24 Dividends Per Share…

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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