Reinhardt furniture company has 40,000 shares of cumulative preferred 2% stock, $150 par and 100,000 shares of $5 par common stock. the following amounts were distributed as dividends: year 1 $70,000 year 2 200,000 year 3 320,000 determine the dividends per share for preferred and common stock for each year. if an answer is zero, enter '0'. round all answers to two decimal places.

for year 1

common stock =  $1.75 per share

preferred stock  = Zero

for year 2

common stock =  $4.25 per share

preferred stock  = $0.3 per share

for year 3

common stock =   $3 per share

preferred stock  =  $2 per share

Step-by-step explanation:

step 1

preferred stock value =  (40000 shares * $150) = $6000000

common stock value  = (100000 shares * $5) = $500000

 step 2

For year 1:

Dividend on preferred stock;

= $120000

But total dividend in the question was $70000 therefore total amount of  dividend on cumulative preferred stock is $70000.

hence, dividend per share

= $1.75 per share

Dividend on common stock;

70,000 - 70,000 = Zero

as total dividend distributed in year 1 is insufficient for cumulative preferred stock therefore no dividend will be paid on common stock.

For year 2:

Dividend on cumulative preferred stock;

= $120000

extra dividend of year 1 ($120000 - $70000) = $50000

Thus total dividend on cumulative preferred stock

($120000 + $50000) = $170000

So dividend per share

= $4.25 per share

Dividend on common stock;

($200000 – $170000) = $30000

dividend per share

= $0.3 per share

For year 3:

Dividend on cumulative preferred stock;

= $120000

total dividend on cumulative preferred stock $120000

dividend per share

= $3 per share

No dividend was extra in the year 2 therefore only available dividend of this year will be paid.

Dividend on common stock;

($320000 – $120000) = $200000

dividend per share

= $2 per share

60°

step-by-step explanation:

the measure angle of c in an isosceles triangle abc is 60° because in isosceles triangle,the measures of all the angles is 60°.