Southern Food Corporation has outstanding 50,000 shares of noncumulative, 8 percent, $100 par-value preferred stock and 80,000 shares of no-par-value common stock. Required: 1. During 20X1, the corporation distributed dividends of $375,000. What amount will be paid on each share of preferred stock? What amount will be paid on each share of common stock? 2. During 20X2, the corporation distributed dividends of $808,000. How much will be paid on each share of preferred stock? How much will be paid on each share of common stock? (Round your answers to 2 decimal places.) 1. 2. Preferred stock, Year 20X1 Common stock, Year 20X1 Preferred stock, Year 20X2 Common stock, Year 20X2 I per preferred share per common share per preferred share per common share

Southern Food Corporation has outstanding 50,000 shares of noncumulative, 8 percent, $100 par-value preferred stock and 80,000 shares of no-par-value common stock, Required: 1. During 20X1, the corporation distributed dividends of $375,000. What amount will be paid on each share of preferred stock? What amount will be paid on each share of common stock? 2. During 202, the corporation distributed dividends of $808,000. How much will be paid on each share of preferred stock? How much will be paid on each share of common stock? (Round your answers to 2 decimal ploces.)