Question
Sandpiper Company has 20,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $15 par common stock. The following amounts were distributed
Sandpiper Company has 20,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends:
| Year | Amount |
|---|---|
| 20Y1 | $180,000 |
| 20Y2 | 45,000 |
| 20Y3 | 270,000 |
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'.
| Year | Preferred Stock (dividends per share) | Common Stock (dividends per share) |
|---|---|---|
| 20Y1 | $fill in the blank 1 | $fill in the blank 2 |
| 20Y2 | $fill in the blank 3 | $fill in the blank 4 |
| 20Y3 | $fill in the blank 5 | $fill in the blank 6 |
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Frank Woods Business Accounting Volume 1
Authors: Frank Wood, Alan Sangster
11th Edition
0273712128, 978-0273712121
