Sandpiper Company has 30,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $5 par common stock. The following amounts were distributed as dividends:

Year 1	$180,000
Year 2	45,000
Year 3	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'.

	Preferred Stock (dividends per share)	Common Stock (dividends per share)
Year 1	$	$
Year 2	$	$
Year 3	$	$

Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 81,100 shares of cumulative preferred 2% stock, $15 par, and 400,100 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $55,500 ; second year, $77,500 ; third year, $80,500 ; fourth year, $100,900 .

Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".

	1st Year	2nd Year	3rd Year	4th Year
Preferred stock (dividends per share)	$	$	$	$
Common stock (dividends per share)	$	$	$	$

3.

1. Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 50,000 shares of preferred 3% stock, $60 par and 450,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations:

   Journalize the transactions.

   Feb. 5. Issued 100,000 shares of common stock at par for cash.

   Feb. 5.

   Feb. 5. Issued 450 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

   Feb. 5.

   Apr. 9. Issued 21,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $57,000, $313,000, and $71,000, respectively.

   If an amount box does not require an entry, leave it blank.

   Apr. 9.

   June 14. Issued 23,000 shares of preferred stock at $71 for cash.

   If an amount box does not require an entry, leave it blank.

   June 14.

4.

1. Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Lifes balance sheet: Common stock (310,000 shares authorized ; 6,000 shares issued), $25 par, $150,000; Paid-In Capital in excess of par common stock, $30,000; and Retained earnings, $1,650,000. The board of directors declared a 2% stock dividend when the market price of the stock was $32 a share. Healthy Life reported no income or loss for the current year.

   If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" from the dropdown.

   a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value.

   a2. Journalize the entry to record the issuance of the stock certificates.

   b. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity.

   Total paid-in capital	$
   Total retained earnings	$
   Total stockholders' equity	$

   c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity.

   Total paid-in capital	$
   Total retained earnings	$
   Total stockholders' equity	$