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Dividends - Preferred and Common

Fairmount Inc., a developer of radiology equipment has stock outstanding as follows: 15,000 shares of cumulative 2%, preferred stock of $15 par, and 50,000 shares of $5 par common. During it's first four years of operation, the following amounts were distributed as dividends year1: $30,000, year 2 $42,000, year 3 $90,000, year 4 $120,000. Calculate the dividends per share on each class of stock for each of the four years.

I need a "walk through"or demonstration on how to:
calculate the current preferred dividend for each year
calculate the preferred dividend in arrears for each year
calculate total preferred dividends per year
calculate preferred shares outstanding per year
calculate preferred dividend per share for each year
calculate dividend for common shares per year
calculate common shares outstanding per year
calculate common dividend per share per year

Solution Summary

The solution explains how to calculate the amount of preferred and common dividends for the given years