Question: Please give step by step correct answer with detailed explanation . A company had stock outstanding as follows during each of its first three years

Please give step by step correct answer with detailed explanation .

A company had stock outstanding as follows during each of its first three years of operations: 4,000 shares of 9%, $100 par, cumulative preferred stock and 55,000 shares of $10 par common stock. The amounts distributed as dividends are presented below. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. Enter "0" if no dividends are paid. Preferred Common Year Dividends Total Per Share Total Per Share 1 $27,000 2 36,000 w N 3 43,450

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