A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10%, $100 par, cumulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends are presented below. Determine the total dividends for each class of stock for each year by completing the schedule. Show all calculations. 6. Prefer Owed (if Total Total $10,000 25,000 60,000 A corporation, which had 15,000 shares of common stock outstanding, declared a 3-for-1 stock split. 7. What will be the number of shares outstanding after the split? If the common stock had a market price of $240 per share before the stock split, what would be an approximate market price per share after the split? (a) (b)