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Oceanic Company has 10,000 shares of cumulative preferred 1% stock, $50 par and 50,000 shares of $30 par common stock. The following amounts were distributed
Oceanic Company has 10,000 shares of cumulative preferred 1% stock, $50 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends:
20Y1 | $10,000 |
20Y2 | 2,500 |
20Y3 | 15,000 |
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
\begin{tabular}{|c|c|c|} \hline & PreferredStock(dividendspershare) & CommonStock(dividendspershare) \\ \hline 20Y1 & $ & $ \\ \hline 20Y2 & $ & $ \\ \hline 20Y3 & $ & $ \\ \hline \end{tabular}Step by Step Solution
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