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Sanchez Company has 48,000 shares of 4% preferred stock of $100 par and 120,000 shares of $50 par common stock. The following amounts were distributed
Sanchez Company has 48,000 shares of 4% preferred stock of $100 par and 120,000 shares of $50 par common stock. The following amounts were distributed as dividends:
Year 1 | $558,000 |
Year 2 | $444,000 |
Year 3 | $505,000 |
Determine the dividends per share for preferred and common stock for each year. Round the dividends per share to the nearest cent.
Year 1 | Year 2 | Year 3 | ||
Amount distributed | $ | $ | $ | |
Preferred dividend | $ | $ | $ | |
Common dividend | $ | $ | $ | |
Dividends per share: | ||||
Preferred stock | $ | $ | $ | |
Common stock | $ | $ | $ |
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