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Sandpiper Company has 15,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 $56,300 20Y2 18,000 20Y3 67,500 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'.   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

Sandpiper Company has 15,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 $56,300 20Y2 18,000 20Y3 67,500 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'.   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
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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I'm having some trouble figuring out how this equation works:

 

Sandpiper Company has 15,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends:

20Y1 $56,300
20Y2 18,000
20Y3 67,500

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'.

  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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