QS 13-13 Dividends on noncumulative preferred stock LO C2

Green Planet Corp. has (a) 4,200 shares of noncumulative 12% preferred stock with a $2 par value and (b) 16,500 shares of common stock with a $0.01 par value. During its first two years of operation, Green Planet declared and paid the following total cash dividends. Compute the dividends paid each year to each of the two classes of stockholders: preferred and common.

Year 1 total cash dividends	$	670
Year 2 total cash dividends	$	1,650