Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares...
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Accounting
Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:
| Year 1 | $10,000 |
| Year 2 | 45,000 |
| Year 3 | 90,000 |
Determine the dividends per share for preferred and common stock for the first year.
a.$0 and $0.10
b.$2.00 and $0
c.$0.50 and $0
d.$0.50 and $0.10
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