[AcctIDKstuff]

Canyon Corp. manfactures mountain bikes and distrbutes them through retail outlets in Colorado and Utah. Canyon Corp. has declared the following annual dividends over a six year period:1993, $30,000; 1994, $15,000; 1995, $10,000; 1996, $4,000; 1997, $50,000; and 1998, $75,000. During the entire period, the outstanding stock of the company was composed of 10,000 shares of cumulative, nonparticipating, $2 preferred stock, $50 par, and 25,000 shares of common stock, $10 par.

Calculate the total dividens and the per-share dividens declared on each class of stock for each of the six years. There were no dividends in arrears on January 1, 1993. Summarize the data in tabular form, using the following column headings:

Year Total Dividends Preferred Dividends Common Dividends
Total Per Share Total Per Share

1993 $30,000
1994 $15,000
1995 $10,000
1996 $4,000
1997 $50,000
1998 $75,000

[AcctIDKstuff]

I know that if it were a percentage I would do the following:
(% preferred stock)(Par Value)= $ per share(10,000 cumulative shares)= Total dividends for preferred stock.

Reading through the book, I'm not sure if the following is correct:
($2 preferred stock)($50 Par Value)= $ 100 per share(10,000 cumulative shares)= $ 1,000,000 Total dividends for preferred stock. Which doesn't make sense

OR

is the $2 the per share cost and I do the following: 2(10,000 cumulative shares)=20,000 dividend of Preferred stock.

Thanks for any direction.