Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000 shares of cumulative preferred 3% stock, $20 par and 410,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $34,000; second year, $76,000; third year, $90,000; fourth year, $120,000. Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0.00". Preferred stock (dividends per share) Common stock (dividends per share) 1st Year 2nd Year 3rd Year 4th Year

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Seventy-Two Inc., a developer of radiology equipment,
has stock outstanding as follows: 70,000 shares of
cumulative preferred 3% stock, $20 par and 410,000
shares of $25 par common.
During its first four years of operations, the following
amounts were distributed as dividends: first year,
$34,000; second year, $76,000; third year, $90,000;
fourth year, $120,000.
Determine the dividends per share on each class of
stock for each of the four years. Round all answers to
two decimal places. If no dividends are paid in a given
year, enter "0.00".
Preferred stock (dividends per share)
Common stock (dividends per share)
1st Year
2nd Year
3rd Year
4th Year
Transcribed Image Text:Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000 shares of cumulative preferred 3% stock, $20 par and 410,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $34,000; second year, $76,000; third year, $90,000; fourth year, $120,000. Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0.00". Preferred stock (dividends per share) Common stock (dividends per share) 1st Year 2nd Year 3rd Year 4th Year
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