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Dividend Allocations

Situation 1 Espino Company has the following stock outstanding:

Common Stock		Preferred Stock
100,700 shares		8,700 shares
$0.50 par value		$20 par, $2 dividend

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The amount available for dividends this year is $56,673. Prepare the dividend allocation between the preferred and common shares. Round per share amounts to two decimal places.

blank Espino Company Dividend Allocation

Total amount available for dividends	$fill in the blank 48fc5207a06f059_1
Dividends to preferred stock:
8,700 shares	fill in the blank 48fc5207a06f059_2
Amount available for common stock	$fill in the blank 48fc5207a06f059_3
Dividends per share:
Preferred stock	$fill in the blank 48fc5207a06f059_4
Common stock	$fill in the blank 48fc5207a06f059_5

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Situation 2 Chiola Corporation has the following stock outstanding:

Common Stock		Preferred Stock
38,100 shares		Cumulative: 4,100 shares
$1 par value		$40 par, $2 dividend
		Noncumulative: 4,600 shares
		$40 par, $2 dividend

No dividends were declared in year 1 of operation. In year 2, there is $53,413 available for dividends. Prepare the dividend allocation between the preferred and common shares. Round per share amounts to two decimal places.

blank Chiola Corporation Dividend Allocation

Total amount available for dividends			$fill in the blank f7b0cefd005bff8_1
Dividends to preferred stock:
Cumulative:
From prior year 4,100 shares	$fill in the blank f7b0cefd005bff8_2
Current year 4,100 shares	fill in the blank f7b0cefd005bff8_3
Total cumulative preferred stock dividends		$fill in the blank f7b0cefd005bff8_4
Noncumulative:
Current year 4,600 shares		fill in the blank f7b0cefd005bff8_5
Total preferred stock dividends			fill in the blank f7b0cefd005bff8_6
Amount available for common stock			$fill in the blank f7b0cefd005bff8_7
Dividends per share:
Preferred cumulative:			$fill in the blank f7b0cefd005bff8_8
Preferred noncumulative:			$fill in the blank f7b0cefd005bff8_9
Common stock: