Problem
Sandpiper Company has 20,000 shares of cumulative preferred 1% stock, $150 par and 50,000 shares of $25 par common stock. The following amounts were distributed as dividends:
Year 1 $60,000
Year 2 12,000
Year 3 90,000
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'.