Dividend Allocations Situation 1 Nguyen Company has the following stock outstanding Common Stock Preferred Stock 50,200 shares 5,700 shares $1 par value $60 par, $3 dividend The amount available for dividends this year is $51,738. Prepare the dividend allocation between the preferred and common shares in total and per share. If required, round per share amounts to two decimal places. Nguyen Company Dividend Allocation Total amount available for dividends Dividends to preferred stock: 5,700 shares Amount available for common stock Dividends per share: Preferred stock Common stock Situation 2 Bell Company has the following stock outstanding Common Stock Preferred Stock 50,200 shares Cumulative: 2,300 shares $1 par value $50 par, $2 dividend Noncumulative: 3,400 shares $50 par, $2 dividend No dividends were declared in year 1 of operation. In year 2, there is $37,586 available for dividends. Prepare the dividend allocation between the preferred and common shares in total and per share. If required, round per share amounts to two decimal places. Bell Company Dividend Allocation Total amount available for dividends Dividends to preferred stock: Cumulative: From prior year 2,300 shares Current year 2,300 shares Total cumulative preferred stock dividends Noncumulative: Current year 3,400 shares Total preferred stock dividends Amount available for common stock Dividends per share: Preferred cumulative: Preferred noncumulative: Common stock