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Hays-Smith Company has 18,000 shares of 4% cumulative preferred stock of $125 par and 50,000 shares of $40 par common stock. The following amounts were
Hays-Smith Company has 18,000 shares of 4% cumulative preferred stock of $125 par and 50,000 shares of $40 par common stock. The following amounts were distributed as dividends: Year 1 $72,000 Year 2 $125,000 Year 3 $160,000 Determine the dividends per share for preferred and common stock for each year.
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