Dividends per share
Response to the following problem:
Triple Z Inc., a developer of radiology equipment, has stock outstanding as follows: 12,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends:
first year, $27,000;
second year, $60,000;
third year, $80,000;
fourth year, $90,000.
Calculate the dividends per share on each class of stock for each of the four years.