Exercise 15-23

Ayayai Company has outstanding 2,700 shares of $100 par, 7% preferred stock and 14,200 shares of $10 par value common. The following schedule shows the amount of dividends paid out over the last 4 years. Allocate the dividends to each type of stock under assumptions (a) and (b). Express your answers in per-share amounts using the format shown below. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 2 decimal places, e.g. $6.85.)

				Assumptions
				(a) Preferred, noncumulative, and nonparticipating				(b) Preferred, cumulative, and fully participating
Year		Paid-out		Preferred		Common		Preferred		Common
2015		$13,500		$		$		$		$
2016		$26,300		$		$		$		$
2017		$52,800		$		$		$		$
2018		$71,100		$		$		$		$