Dividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $24,000; Year 2, $72,000; Year 3, $108,000; Year 4, $138,000; Year 5, $168,000; and Year 6, $210,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $25 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0".

Year 1, $24,000; Year 2, $72,000; Year 3, $108,000; Year 4, $138,000; Year 5, $168,000; and Year 6, $210,000.

30,000 shares of 2% preferred stock $100 par

100,000 shares of common stock $25 par

dividends distributed per preferred stock $2 x 30,000 stocks = $60,000

                             Year        Year        Year        Year         Year         Year

                                1               2             3              4              5               6

total dividends 24,000   72,000   108,000  138,000   168,000   210,000

distributed                                                                                                          

to preferred     24,000   72,000    84,000    60,000     60,000    60,000

stocks                                                                                                                

per preferred      0.80        2.40        2.80           2               2              2

stock                                                                                                                  

to common            0             0         20,000    78,000   108,000   150,000

stocks                                                                                                                

per common            0              0          $0.20       $0.78     $1.08        $1.50

stock                                                                                                                  

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