Chapter 20.I, Problem 3TIE

To determine

To calculate: The amount of dividends due the preferred shareholders and the dividend per share of common stock when Jupiter Importers, Inc., has $300,000$ shares of $\$100$ par value, $7.5\%$, cumulative preferred stock and $5,200,000$ shares of common stock. Although no dividend was declared for last year, a $\$7000,000$ dividend has been declared for this year.