Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 102

The board of directors of Fortune Industries has declared a dividend of $3,000,000. The company has 700,000 shares of preferred stock that pay $0.90 per share and 1,600,000 shares of common stock.
a. What are the dividends due the preferred shareholders
b. What is the dividend per share of common stock