Dividends

Keener Company has had 1,400 shares of 6%, $100 par preferred stock and 32,000 shares of $5 stated value common stock outstanding for the last 3 years. During that period, dividends paid totaled $6,900, $26,400, and $27,600 for each year, respectively.

Compute the amount of dividends that Keener must have paid to preferred shareholders and common shareholders in each of the 3 years, given the following independent assumption:

1. Preferred stock is fully participating and cumulative.

Keener Company
Schedule of Dividends
		Preferred		Common		Total
Year 1		$ 6900		$ 0		$ 6900
Year 2		$ ??		$ ??		$ 26400
Year 3		$ ??		$ ??		$ 27600