The Geranium Company paid dividends at the end of each year as follows: 20x0 $150,000, 20x1 $240,000, and 20x2 $560,000.
Required:
Determine the total amount of dividends and the dividends per share paid on common and preferred stock for each year, assuming independent capital structures as follows:
(a) 300,000 shares of no par common and 20,000 shares of $100 par, 9% noncumulative preferred.
(b) 250,000 shares of $10 -par common and 30,000 shares of $100 par, 9% cumulative preferred.