Problem

Michelangelo Inc., a software development firm, has stock outstanding as follows: 10,000 shares of 1% preferred stock of $110 par, and 33,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $7,400; second year, $10,200; third year, $30,800; fourth year, $66,110.

Calculate the dividends per share on each class of stock for each of the four years.