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, $36,000; 20Y2, $72,000; 20Y3, $171,000; 20Y4, $198,000; 20Y5, $261,000; and 20Y6, $324,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $5 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 per share answers to two decimal places. If the amount is zero, please enter "0".

Preferred Dividends Common Dividends Total Dividends Year Total Per Share Total Per Share 2011 $36.000 31 0000 1.2 0 2012 72,000 72,000 2.4 0 2013 171,000 171,000 X 5.4 0.09 Imm! 2014 198,000 198,000 x 3 1.08 2045 261,000 252,000 X 3 2016 324,000 324,000 x 3 2.34 2. Demine the average annual dividend per share for each dess of stock for the six year period. If required, round your answers to two decimalom Average annual dividend e preferred per share Average divided for common per share 3. Assuming a market price per share of $165 for the preferred stock and $9 for the common stock, determine the were ama percentage for preferred stock and (b) for common stock Round your answers to two decimal places Preferred stock 1.36X Common stock 3.44 X 90