Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 60,000 shares of cumulative preferred 3% stock, $20 par and $405,000 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 - $100,000 Four Year - $110,000 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
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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: 60,000 shares of cumulative preferred 3% stock, $20 par and $405,000 shares of $25 par common.

During its first four years of operations, the following amounts were distributed as dividends.

  1. First Year - $34,000
  2. Second Year - $76,000
  3. Third Year - $100,000
  4. Four Year - $110,000

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".

I have to figure out the preferred stock $ (dividends per share) per year and the common stock (dividends per share) per year. 

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