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A corporation has 13,000 shares of 12%, $103 par noncumulative preferred stock outstanding and 24,000...

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Accounting

A corporation has 13,000 shares of 12%, $103 par noncumulative preferred stock outstanding and 24,000 shares of no-par common stock outstanding. At the end of the current year, the corporation declares a dividend of $220,000. What is the dividend per share for preferred stock and for common stock? (Round your answer to the nearest cent.) a The dividend per share is $12.36 to preferred stock and $27.96 to common stock. b The dividend per share is $12.36 to preferred stock and $2.47 to common stock. c The dividend per share is $12.36 to preferred stock and $12.36 to common stock. d The dividend per share is $8.02 to preferred stock and $2.47 to common stock.

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