Zero Calories Company has 15,000 shares of cumulative preferred 1% stock, $50 par and 100,000 shares of $10 par common stock. The following amounts were distributed as dividends; 20Y1 $28,500 20Y2 6,000 20Y3 110,000 Determine the dividends per share for preferred and common stock for each year.

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter12: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 12.1BE
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Dividends per share 

Zero Calories Company has 15,000 shares of cumulative preferred 1% stock, $50 par and 100,000 shares of $10 par common stock. The following amounts were distributed as dividends;

20Y1 $28,500
20Y2 6,000
20Y3 110,000

Determine the dividends per share for preferred and common stock for each year.

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