Dividends per share for preferred and common stock

Reference no: EM13150710

Oceanic Company has 20,000 shares of cumulative 4% preferred stock of $150 par and 50,000 shares of $5 par common stock. The following amounts were distributed as dividends:

Year 1 $240,000

Year 2 $40,000

Year 3 $240,000

Determine the dividends per share for preferred and common stock for each year. Round all answers to nearest whole cent. If an answer is zero, enter '0'

Answers

Preferred Stock Common Stock

Year 1 4.00 3.20

Year 2 2.00 0.00

Year 3 6.00 2.40

How did they come up wth these answers? Please help

Reference no: EM13150710

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