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Dividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $36,000; Year 2, $108,000; Year 3, $162,000; Year 4, $198,000; Year 5, $261,000; and Year 6, $315,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, 3% preferred stock, $100 par, and 100,000 shares of common stock, $5 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividende Dividende Per Share $ 36.000 162.000 195.000 26100 315.000 2. Determine the average annual dividend per share for each class of stock for the six year period. If required, round your answers to two decimal places. Average annual dividend for preferred per share Average annual divided for common 3. Assuming a market price per share of $169 for the preferred stock and $10 for the common stock, determine the average annual percentage return on initial shareholders' investment, based on the average annual dividend per share for preferred stock and for common stock Round your answers to two decimal places. Commons 1. Is the preferred stock cumulative or non-cumulative? How will the preferred stock being cumulative or non-cumulative affect the distribution of dividends? Determine what amount of current dividends the preferred stock should receive per year. Recall the definition of dividends in arrears" How much in dividends would each share of preferred stock receive each year? How much in dividends would each share of common stock receive each year? Dammedin th t in