Situation 1 Espino Company has the following stock outstanding: Common Stock Preferred Stock 105,300 shares 9,900 shares $0.50 par value $20 par, $2 dividend The amount available for dividends this year is $57,708. Prepare the dividend allocation between the preferred and common shares. If required, round per share amounts to two decimal places. Espino Company Dividend Allocation Total amount available for dividends Dividends to preferred stock: 9,900 shares Amount available for common stock su Dividends per share: Preferred stock Common stock Situation 2 Chiola Corporation has the following stock outstanding: Common Stock Preferred Stock 39,800 shares Cumulative: 3,800 shares $1 par value $40 par, $2 dividend Noncumulative: 6,100 shares $40 par, $2 dividend No dividends were declared in year 1 of operation. In year 2, there is $57,250 available for dividends. Prepare the dividend allocation between the preferred and common shares. If required, round per share amounts to two decimal places. Chiola Corporation Dividend Allocation Total amount available for dividends Dividends to preferred stock: Cumulative: From prior year 3,800 shares Current year 3,800 shares Total cumulative preferred stock dividends Noncumulative: Current year 6,100 shares Total preferred stock dividends Amount available for common stock Preferred cumulative: Preferred noncumulative: Common stock