Fairmount Inc., a developer of radiology equipment, has stock outstanding as follows: 15,000 shares of cumulative 2%,

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Fairmount Inc., a developer of radiology equipment, has stock outstanding as follows: 15,000 shares of cumulative 2%, preferred stock of $150 par, and 50,000 shares of $5 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $30,000; second year, $42,000; third year, $90,000; fourth year, $120,000. Calculate the dividends per share on each class of stock for each of the four years.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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