=+E8-15 Dividends per share Objs 4, 5

/ Preferred stock, 1st year:

$0.80 Electro-Rad Inc., a developer ofradiology equipment, has stock outstanding as follows:

50,000 shares of 2%, preferred stock of $50 par, and 100,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year,

$40,000; second year, $98,000; third year, $120,000; fourth year, $195,000. Calculate the divi¬

dends per share on each class ofstock for each ofthe four years.