A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of $10, $100 par, cumulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends are presented below.

Determine the total and per share dividends for each class of stock for each year by completing the schedule. If necessary, round your answer to two decimal places. If an amount box does not require an entry, leave it blank or enter "0".
Preferred Common
Year Dividends Total Per Share Total Per Share
1 10,000 $ $ $ $
2 25,000
3 60,000

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To determine the total and per share dividends for each class of stock for each year, you need to consider the amount of preferred and common stock outstanding and the distribution of dividends for each year.

Given data:
- Preferred Stock: 2,500 shares of $10, $100 par, cumulative preferred stock
- Common Stock: 50,000 shares of $10 par common stock

Let's calculate the dividends for each year:

Year 1:
The total amount of dividends distributed is $10,000.
To calculate the dividends per share for preferred stock, divide the total amount by the number of preferred stock shares:
Dividends per share of preferred stock = Total dividends / Number of preferred shares
Dividends per share of preferred stock = $10,000 / 2,500 = $4

For common stock, since the preferred stock has a cumulative feature, any dividends must be paid to preferred stockholders before common stockholders receive any dividends. Therefore, the common stock dividends for Year 1 would be zero.

Year 1:
Preferred Dividends: $10,000, Per Share: $4
Common Dividends: $0, Per Share: $0

Year 2:
The total amount of dividends distributed is $25,000. Since the preferred stock is cumulative, any missed dividends from previous years need to be paid before common stockholders receive any dividends.

Preferred Stock Dividends for Year 2:
The total number of preferred stock shares is still 2,500.
To calculate the dividends per share, we need to consider any missed dividends from Year 1. Since it is given that $10,000 in dividends were distributed in Year 1, no dividends were missed, and all $10,000 were paid.

Therefore,
Dividends per share of preferred stock = Total dividends / Number of preferred shares
Dividends per share of preferred stock = $10,000 / 2,500 = $4

Common Stock Dividends:
The remaining amount of $25,000 will be distributed among the common stock shareholders.
To calculate the dividends per share for common stock, divide the remaining amount by the number of common stock shares:
Dividends per share of common stock = Remaining dividends / Number of common shares
Dividends per share of common stock = $25,000 / 50,000 = $0.50

Year 2:
Preferred Dividends: $10,000, Per Share: $4
Common Dividends: $25,000, Per Share: $0.50

Year 3:
The total amount of dividends distributed is $60,000. Again, we need to consider any missed dividends from previous years for preferred stock.

Preferred Stock Dividends for Year 3:
The total number of preferred stock shares is still 2,500.
To calculate the dividends per share, we need to consider any missed dividends from Year 1 and Year 2. Based on the given information, no dividends were missed in Year 1, and $10,000 dividends were distributed in Year 2. Therefore, $10,000 dividends from Year 2 are still unpaid.

Now, the unpaid dividends from Year 2 ($10,000) and the dividends for Year 3 ($60,000) need to be considered together.
Dividends per share of preferred stock = Total dividends / Number of preferred shares
Dividends per share of preferred stock = ($10,000 + $60,000) / 2,500 = $28

Common Stock Dividends:
The remaining amount of $60,000 - $10,000 (paid to preferred stock) = $50,000 will be distributed among the common stock shareholders.
To calculate the dividends per share for common stock, divide the remaining amount by the number of common stock shares:
Dividends per share of common stock = Remaining dividends / Number of common shares
Dividends per share of common stock = $50,000 / 50,000 = $1

Year 3:
Preferred Dividends: $70,000, Per Share: $28
Common Dividends: $50,000, Per Share: $1

So, the completed schedule is as follows:

Preferred Common
Year Dividends Total Per Share Total Per Share
1 $10,000 $10,000 $4.00 $0.00 $0.00
2 $10,000 $10,000 $4.00 $25,000 $0.50
3 $70,000 $28.00 $50,000 $1.00