Question
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 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: 20Y1, $48,000; 20Y2, $96,000; 20Y3, $228,000; 20Y4, $276,000; 20Y5, $336,000; and 20Y6, $432,000. 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, an 100,000 shares of common stock, $10 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 20Y1. Summarize the data in tabular form. If required round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year , Dividends Total Per Share Total Per Share Year, Total Dividends, Total, Per Share, Total, & Per Share20?1 - $48,000 20?2 - 96,000 20?3 - 228,000 20Y4. - 276,000 20Y5 - 336,000 20Y6 - 432,0002.) 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 $____ per share ?Average annual dividend for common $____ per share
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