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Verdich [7]
2 years ago
13

Dividends Per Share Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 60,000 shares of cum

ulative preferred 3% stock, $20 par and 400,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $32,000; second year, $72,000; third year, $80,000; fourth year, $100,000. Determine the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0.00".
Mathematics
1 answer:
Sergeeva-Olga [200]2 years ago
3 0

The dividends per share on each class of stock for each of the four years for Seventy-Two Inc. are as follows:

<h3>Cumulative Preferred Stock:</h3>

                                            Year 1       Year 2        Year 3           Year 4

Distributed Dividends    $32,000    $40,000    $36,000        $36,000

Outstanding shares          60,000      60,000      60,000           60,000

Dividend per share           $0.53       $0.67          $0.60             $0.60

<h3>Common Stock:</h3>

                                          Year 1       Year 2        Year 3           Year 4

Distributed Dividends    $0              $32,000     $44,000       $64,000

Outstanding shares        400,000    400,000     400,000       400,000

Dividend per share        $0              $0.08            $0.11              $0.16

<h3>Data and Calculations:</h3>

                              3% Cumulative Preferred       Common Stock

Outstanding shares          60,000                        400,000

Par Value                            $20                              $25

Total value                       $1,200,000              $10,000,000

Annual dividend            $36,000 ($1,200,000 x 3%)

                                            Year 1       Year 2        Year 3           Year 4

Distributed Dividends    $32,000    $72,000    $80,000       $100,000

Cumulative Preferred      $32,000    $40,000    $36,000        $36,000

Common Stock                $0              $32,000    $44,000        $64,000

Learn more about dividends at brainly.com/question/25845157

#SPJ1

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