SpaceY Corporation has 5,000 preferred shares outstanding (no par value, $2 dividend) which

were issued for $150,000; and 30,000 shares of no par value common, which were issued for $550,000.

The following schedule shows the amount of dividends paid out over the last four years. Allocate the

dividends to each type of share under assumptions (a) and (b). Express your answers in per share amounts

and using the format that is shown. [4 Marks]

Assumption

(a)

Preferred, Noncumulative,

and Nonparticipating

(b)

Preferred, Cumulative,

and Fully Participating

Year Paid-out Preferred Common Preferred Common

2017 $10,000

2018 $35,000

2019 $25,000

2020 $115,000