Answer:
preferred stocks (dividends per share)
common stocks (dividends per share)
Explanation:
distributed dividends       preferred stocks         common stocks
year 1 = $55,000 Â Â Â Â Â Â Â Â Â Â Â Â $48,000 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $7,000
year 2 = $76,500 Â Â Â Â Â Â Â Â Â Â Â Â $48,000 Â Â Â Â Â Â Â Â Â Â Â Â Â Â $28,500
year 3 = $81,100 Â Â Â Â Â Â Â Â Â Â Â Â Â $48,000 Â Â Â Â Â Â Â Â Â Â Â Â Â Â $33,100
year 4 = $101,400 Â Â Â Â Â Â Â Â Â Â Â $48,000 Â Â Â Â Â Â Â Â Â Â Â Â Â Â $53,400
preferred stocks' dividends = $15 x 4% x 80,000 stocks = $48,000
dividends per share = $15 x 4% = Â $0.60
common stocks' dividends = total dividends - preferred stocks' dividends
year 1 = 7,000 / 399,000 = 1.75¢ per share
year 2 = 28,500 / 399,000 = 7.14¢ per share
year 3 = 33,100 / 399,000 = 8.30¢ per share
year 4 = 53,400 / 399,000 = 13.38¢ per share