Sabik Corporation has 10.500 shares of 8%. $50 par value, cumulative preferred stock outstan as well as 20.000 shares of $10 par value common stock issued and 5,000 shares of common s repurchased as treasury stock at the end of the third year of operations. During the first, secon and third years of operations, $5,000 $50,000, and $90,000 in dividends, respectively, were pa The dividends per share paid to the common stockholders of Sabik Corporation in year three amounted to (round to the nearest penny): $3.20. $0.95 $1.27.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sabik Corporation has 10.500 shares of 8%. $50 par value, cumulative preferred stock outstanding
as well as 20,000 shares of $10 par value common stock issued and 5,000 shares of common stock
repurchased as treasury stock at the end of the third year of operations. During the first, second,
and third years of operations, $5,000 $50,000, and $90,000 in dividends, respectively, were paid.
The dividends per share paid to the common stockholders of Sabik Corporation in year three
amounted to (round to the nearest penny):
$3.20.
$0.95.
$1.27.
$2.40.
None of the above.
Transcribed Image Text:Sabik Corporation has 10.500 shares of 8%. $50 par value, cumulative preferred stock outstanding as well as 20,000 shares of $10 par value common stock issued and 5,000 shares of common stock repurchased as treasury stock at the end of the third year of operations. During the first, second, and third years of operations, $5,000 $50,000, and $90,000 in dividends, respectively, were paid. The dividends per share paid to the common stockholders of Sabik Corporation in year three amounted to (round to the nearest penny): $3.20. $0.95. $1.27. $2.40. None of the above.
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