Question: Dividends Per Share Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $25 par, and 25,000
Dividends Per Share
Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $25 par, and 25,000 shares of $75 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,800; second year, $6,400; third year, $40,550; fourth year, $80,500.
Calculate the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, leave it blank.
1st Year2nd Year3rd Year4th YearPreferred stock (dividend per share)$fill in the blank 1$fill in the blank 2$fill in the blank 3$fill in the blank 4Common stock (dividend per share)$fill in the blank 5$fill in the blank 6$fill in the blank 7$fill in the blank 8Step by Step Solution
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