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Scan Tech Inc., a developer of radiology equipment has stock outstanding as follows: 24,000 shares...

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Accounting

Scan Tech Inc., a developer of radiology equipment has stock outstanding as follows: 24,000 shares of 2% preferred stock of $75 par, and 100,000 shares of $8 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $19,200; second year, $30,000; third year, $75,000; fourth year, $120,000. Calculate the dividends per share on each class of stock for each of the four years.

Why is the total preferred dividends for the 1st and 2nd year the same as total dividen declared? image

1st Year 2nd Year 3rd Year 4th Year $19,200 $ 30,000 $ 75,000 $120,000 $19,200 $ 30,000 $ 36,000 $ 36,000 24000 24.000 1.50 $1.50 24.000 240061 Preferred shares outstanding... Preferred dividend per share Dividend for common share - $ 39,000 $ 84,000 -100,000 100,000 $0.39 $0.84 Common shares outstanding Common dividend per share

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