RECOMMENDED!!ACG 2011 – Imaging Inc., a developer of radiology equipment, has stock outstanding
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 16,000 shares of cumulative preferred 4% stock, $140 par, and 53,000 shares of $5 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $60,000; second year, $129,200; third year, $150,880; fourth year, $160,090.Compute the dividends per share on each class of stock (preffered and Common) for each of the four years. Round all answers to two decimal places.
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