Sandpiper Company has 10,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: Year Amount 20Y1 $45,000 20Y2 15,000 20Y3 90,000 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 Preferred Stock(dividends per share) Common Stock(dividends per share) 20Y1 $fill in the blank 1 $fill in the blank 2 20Y2 $fill in the blank 3 $fill in the blank 4 20Y3 $fill in the blank 5 $fill in the blank 6

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Question

Sandpiper Company has 10,000 shares of cumulative preferred 3% stock, $100 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends:

Year Amount
20Y1 $45,000
20Y2 15,000
20Y3 90,000

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 Preferred Stock
(dividends per share)
Common Stock
(dividends per share)
20Y1 $fill in the blank 1 $fill in the blank 2
20Y2 $fill in the blank 3 $fill in the blank 4
20Y3 $fill in the blank 5 $fill in the blank 6
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