Paloma Corporation Had 5,000 Shares of $100 Par Value, 9

question 56

Essay

Paloma Corporation had 5,000 shares of $100 par value, 9 percent cumulative preferred stock and 30,000 shares of $10 par value common stock outstanding during each of its first four years of operation. The following amounts of cash dividends were paid during the years indicated: 2007 , $0; 2008 , $80,000; 2009 , $220,000; 2010 , $270,000. Determine the cash dividends per share paid to the preferred and common stockholders during each of the four years.