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Dividend Distribution Rydon Corporation began business on March 1 Year 1. At that time, it issued 20,000 shares of $60 par value, seven percent cumulative

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Dividend Distribution Rydon Corporation began business on March 1 Year 1. At that time, it issued 20,000 shares of $60 par value, seven percent cumulative preferred stock and 100,000 shares of stock. Through the end of Year 3, there had been no change in the number of preferred and common shares outstanding. Required a. Assume that Rydon declared dividends of $0 in Year 1, $190,000 in Year 2, and $210,000 in Year 3. Calculate the total dividends and the dividends per share paid to each cl 2. and Year 3. Round to two decimal places

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