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Dividends Per Share Seventy Two Inc, a developer of radiology equipment, has stock outstanding as follows: 70,000 shares of cumulative preferred 3% stock, $20 par and 410,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends finst year, $31,000, second year, $72,000, third year. $100,000; fourth year, $120,000 Determine the dividends 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, enter"0.00" 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividends per share) 0.44 0 Common stock (dividends per share) Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 5,400 shares of its common stock at $64 per share on September 22, Mystic Lake told 3,800 of the reacquired shares at $71 per share. The remaining 1,600 shares were sold at $60 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. 11 an amount box does not require an entry, leave it blank. July 9 Treasury Stock 145.00 Cash 345,600 Cash Sept. 22 269.00 Treasury Stock 24.200 Pald-In Capital from Sale of Treasury Stock 2600 Nov. 23 Cash 36.000 Paid-in Capital from Sale of Treasury Stock Treasury Stock 1024 b. What is the balance in Paldin Capital from Sole of Treasury Stock on December 31 of the current year) Credit c. For what reasons might Mystic Lake Ine have purchased the treasury stock? All of these reasons