FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Dividends Per Share
Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,000 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, $30,000; second year, $73,000; 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".
1st Year
2nd Year
3rd Year
4th Year
Preferred stock (dividends per share)
0.38 V
$
$
0.6 V
$
0.75
0.6
Common stock (dividends per share)
0.03
0.09 x
0.25 X
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Transcribed Image Text:Dividends Per Share Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,000 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, $30,000; second year, $73,000; 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". 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividends per share) 0.38 V $ $ 0.6 V $ 0.75 0.6 Common stock (dividends per share) 0.03 0.09 x 0.25 X
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