Dividends Per ShareLightfoot 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 $75 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, $43,050; fourth year, $77,500.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.Preferred stock (dividend per share)Common stock (dividend per share)$1st Year2nd Year3rd Year$4th Year

Given Information:Preferred Stock: - 20,000 shares - 3% cumulative - $20 par valueCommon Stock: -…

Answered: Dividends Per Share Lightfoot Inc., a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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