Dividends Per Share Sandpiper Company has 30,000 shares of cumulative preferred 3% stock, $50 par...
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Accounting
Dividends Per Share
Sandpiper Company has 30,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends:
20Y1
$67,500
20Y2
18,000
20Y3
135,000
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
Preferred Stock (dividends per share)
Common Stock (dividends per share)
20Y1
1.5
0.45
20Y2
.06
0
20Y3
?
?
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Determine what amount of current dividends that preferred stock should receive per year.
Keep in mind that the question is asking for a dividend per share for each year and class of stock, rather than the total amount to be distributed to each class of stock.
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