Dividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 2011, $48,000; 2012, $96,000; 2013, $216,000; 2014, $276,000; 2015, $336,000; and 2016, $420,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 40,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $20 par Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 2011. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0" Preferred Dividends Common Dividends Year Total Dividends Total Per Share Total Per Share 201 $ 48,000 48,000 1.2 0 2012 96,000 96,000 2.4 V 0 0 2013 216,000 216,000 5.4 0 2014 276,000 120,000 156,000 1.56 2015 2016 336,000 120,000 3 216,000 2.16 V 420,000 120,000 300,000 6.72 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. Average annual dividend for preferred Average annual dividend for common 0.75 X per share 0.38 X per share 3. Assuming a market price per share of $192 for the preferred stock and $26 for the common stock, determine the average annual percentage return on initial