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Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,900 shares of cumulative...

Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,900 shares of cumulative preferred 4% stock, $15 par, and 401,100 shares of $26 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $55,400 ; second year, $77,300 ; third year, $82,000 ; fourth year, $100,200 .

Calculate 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".

1st Year 2nd Year 3rd Year 4th Year
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Answer #1
Year 1 Year 2 Year 3 Year 4
Preferred Stock (dividend per share) $ 0.60 $ 0.60 $               0.60 $         0.60
Dividend Stock (dividend per share) $ 0.02 $ 0.07 $               0.08 $         0.13
Workings:
Preferred Stock Dividend Stock Total
(i) (ii)
Year 1 $      48,540 $         6,860 $           55,400
Year 2 $      48,540 $      28,760 $           77,300
Year 3 $      48,540 $      33,460 $           82,000
Year 4 $      48,540 $      51,660 $       1,00,200
Preferred Stock Dividend Stock
(i) / 80900 (ii) / 401100
Year 1 $           0.60 $           0.02
Year 2 $           0.60 $           0.07
Year 3 $           0.60 $           0.08
Year 4 $           0.60 $           0.13
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