Lasson Corp. has 5,000 preferred shares outstanding (no par value, $2 dividend), which were issued for $150,000, and 30,000 no par value common shares, which were issued for $550,000.

Instructions

The following schedule shows the amount of dividends paid out over the last four years. Allocate the dividends to each stype of share under assumptions (a) and (b). Express your answers in per share amounts and using the format that is shown.

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Assumptions Preferred, non-cumulative, Preferred, cumulative, and non-participating Preferred Year 2011 $ 8,000 2012 $24,000 2013 60,000 2014 $126,000 Paid-out Common Preferred Common