Sanchez Company has 46,000 shares of 7% preferred stock of $100 par and 98,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1	$581,000
Year 2	$452,000
Year 3	$525,000

Determine the dividends per share for preferred and common stock for each year. Round the dividends per share to the nearest cent.

		Year 1	Year 2	Year 3
Amount distributed		$	$	$
Preferred dividend		$	$	$
Common dividend		$	$	$
Dividends per share:
	Preferred stock	$	$	$
	Common stock	$	$	$

Answer rating: 100% (QA)

Amount distributed Preferred dividend Commo... View the full answer