Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 3% stock, $25 par, and 13,000 shares of $100 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,900; second year, $4,700; third year, $25,040; fourth year, $41,950.

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 Year	2nd Year	3rd Year	4th Year
Preferred stock (dividend per share)	$	$	$	$
Common stock (dividend per share)	$	$	$	$

Answer rating: 100% (QA)

Being its cumulative preferred shares any unpaid divi... View the full answer