Question: =+EX 13-1 Dividends per share obj. 3 Preferred stock, 1st year: $2.00 Michelangelo Inc., a software development firm, has stock outstanding as follows: 20,000

=+EX 13-1 Dividends per share obj. 3

✔ Preferred stock, 1st year: $2.00 Michelangelo Inc., a software development firm, has stock outstanding as follows:

20,000 shares of cumulative 1%, preferred stock of $25 par, and 25,000 shares of $100 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,000; second year, $4,000; third year, $30,000; fourth year, $80,000. Calculate the dividends per share on each class of stock for each of the four years.

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