Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000 shares of cumulative preferred 3% stock, $20 par and 400,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $32,000; second year, $75,000; third year, $90,000; fourth year, $100,000. 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".

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 400,000 shares of $25 par
common. During its first four years of
operations, the following amounts were
distributed as dividends: first year, $32,000;
second year, $75,000; third year, $90,000;
fourth year, $100,000. 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".
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 400,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $32,000; second year, $75,000; third year, $90,000; fourth year, $100,000. 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".
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