Dividend Allocations Situation 1 Nguyen Company has the following stock outstanding: $1 par value Common Stock Preferred Stock 60,000 shares 5,000 shares $60 par, $3 dividend The amount available for dividends this year is $57,000. Prepare the dividend allocation between the preferred and common shares in total and per share. Round per share amounts to two decimal places. Nguyen Company Dividend Allocation Total amount available for dividends & Dividends to preferred stock: 5,000 shares Amount available for common stock Dividends per share: Preferred stock I. Common stock Situation 2 Bell Company has the following stock outstanding: Common Stock 60,000 shares $1 par value Preferred Stock Cumulative: 2,000 shares $50 par, $2 dividend Noncumulative: 3,000 shares $50 par, $2 dividend No dividends were declared in year 1 of operation. In year 2, there is $38,000 available for dividends. Prepare the dividend allocation between the preferred and common shares in total and per share. Round per share amounts to two decimal places Bell Company Dividend Allocation s Total amount available for dividends Dividends to preferred stock: Cumulative: From prior year 2,000 shares Current year 2,000 shares Total cumulative preferred stock dividends Noncumulative: Current year 3,000 shares Total preferred stock dividends Amount available for common stock Dividends per share: Preferred cumulative: Preferred noncumulative: Common stock: do GU N S DIE