Answered: Question Content Area Dividends Per…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings

Section: Chapter Questions

Problem 1CP: CHALLENGE PROBLEM This problem challenges you to apply your cumulative accounting knowledge to move...

See similar textbooks

Question Content Area

Dividends Per Share

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, $74,000; third year, $80,000; fourth 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".

	1st Year	2nd Year	3rd Year	4th Year
Preferred stock (dividends per share)	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4
Common stock (dividends per share)	fill in the blank 5	fill in the blank 6	fill in the blank 7	fill in the blank 8