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Macy Company has 10,000 shares of 2% cumulative preferred stock of $50 par and 25,000 shares of $75 par common stock. The following amounts were
Macy Company has 10,000 shares of 2% cumulative preferred stock of $50 par and 25,000 shares of $75 par common stock. The following amounts were distributed as dividends:
Year 1: | $30,000 |
Year 2: | 6,000 |
Year 3: | 80,000 |
Determine the dividends per share for preferred and common stock for each year.
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