Lone Star Theatre Inc. owns and operates movie theaters throughout Arizona and Texas. Lone Star Theatre has declared the following annual dividends over a six-year period: 2005, $7,500; 2006, $9,000; 2007, $30,000; 2008, $30,000; 2009, $40,000; and 2010, $48,500. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 10,000 shares of cumulative, 2% preferred stock, $50 par, and 50,000 shares of common stock, $1 par.
If required, for parts 1 and 2, round answers to nearest whole cent. Enter a zero if no dividends will be paid.
1. Calculate 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 on January 1, 2005. Summarize the data in tabular form, using the following column headings:
