On January 1, 20Y1, DeFrance Corporation issued for cash 40,000 shares of $10 par common stock at $24. On March 30, 20Y1, DeFrance issued 6,000 shares of cumulative preferred 3% stock of $100 par at $142. The following amounts were distributed as dividends on December 31 of each year:

a. Journalize the entries to record the January 1 and March 30, 20Y1, transactions.
b. Determine the dividends per share for preferred and common stock for 20Y1, 20Y2, and 20Y3.

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20Y1 20Y2 20Y3 $ 6,000 46,000 80,000