Dividends Per Share Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 23,000 shares of cumulative preferred 2% stock, $130 par, and 77,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $40,020; second year, $89,580; third year, $116,060; fourth year, $149,890. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, leave it blank. 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) $ $ Common stock (dividend per share) $ $ $ 0 Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 285,000 shares of no-par common stock (with a stated value of $3) at $12, and on August 3, it issued for cash 30,000 shares of preferred stock, $85 par at $89. a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. Feb. 12 Aug. 3 b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3? $1 Issuing Stock for Assets Other Than Cash On April 5, Fenning Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 29,000 shares of $15 par common stock valued at $24 per share. Journalize the entry to record the transaction. If an amount box does not require an entry, leave it blank. Apr. 5