Question: Please solve this question Dividends Per Share Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 3% stock,

Please solve this question
Please solve this question Dividends Per Share Lightfoot Inc., a software development

Dividends Per Share Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 3% stock, $20 par, and 25,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $4,600; second year, $7,600; third year, $45,800; fourth year, $86,750. Calculate the dividends 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, enter "0". 2nd Year 3rd Year 1st Year 4,600 X 4th Year 12,000 X Preferred stock (dividend per share) 7,600 X 23,800 X Common stock (dividend per share) 0.23 X 0.38 X 1.19 X 0.6 X Feedback Check My Work Is the preferred stock cumulative or non-cumulative stock? Determine what amount of current dividends that preferred stock should receive per year. Is the question asking for a per-share amount or total amount per class of stock

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