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EX 12-2 Dividends per share Obj. 2 Lightfoot Inc., a software development firm, has stock outstanding as follows: 40,000 shares of cumulative preferred 1% stock, $125 par and 100,000 shares of $150 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $36,000; second year, $58,000; third year, $75,000; fourth year, $124,000. Determine the dividends per share on each class of stock for each of the four years. Answer Check Figure: Preferred stock, 1st year: $0.90 Description 1st Year 2nd Year 3rd Year 4th Year Total dividend declared Preferred dividend (current) Preferred dividend in arrears Total preferred dividends Preferred shares outstanding Preferred dividend per share Dividend for common shares Common shares outstanding Common dividend per share