Exercise 12-1 Seventy-Two, Inc., developer of radiology equipment, has sotck outstanding as follows 80,000 shares of cumulative 3%, preferred stock of S20 par and 400,000 shares of $25 par common stock During the first 4 years of operations, the following amounts were distributed as dividends: Dividend facts 1st Year 2nd Year $ 36,000 $ 72,000 $ 80,000 $ 100,000 3rd Year 4th Year Calculate dividend per share on each class of stock-Preferred is Non Cumulative Calculate dividend per share on each class of stock-Preferred is Cumulative Common Stock Stock facts Preferred Stock 3% of Per This part was not Total Number Par Value Total Shares Par Valueshare value of Shares required | remainder to common St. Dividend Common Stock Preferred Stock, non Cumulative Total Common dividendPer Share Total annual Dividends Total Preferred lared by dividend Per Share Preferred allocation Year First Year Second Year Third Year Four Year BOD allocation Preferred Stock A new example Common Stock 3% of Per Par Value share value Total Number This was required of Shares Total Shares Par Value Dividend remainder to common St. Preferred Stock, CUMULATIVE Common Stock Total annual Total Common dividendPer Share allocation Common Dividends Total Preferred Declared by dividend Per Share Preferred Year First Year Second Year Third Year Four Year Total BOD