Dividends per shareLightfoot Inc., a software development firm, has stock outstanding as follows: 49,000 shares of cumulative preferred 1% stock, $110 par and 97,000 shares of $145 parcommon. During its first four years of operations, the following amounts were distributed as dividends: first year, $26,000; second year, $67,000; third year, $77,000;fourth year, $125,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input youranswers in the questions below.XOpen spreadsheetDetermine the dividends per share on each class of stock for each of the four years. Round your answers to the nearest cent. If no dividends are paid in a givenyear, enter "0".1st Year2nd Year3rd YearPreferred stock (dividends per share) $0.531.37Common stock (dividends per share) $00$4th Year1.4$1.1

Step 1: Solve for the preferred stockholder's dividends Note that the preferred stocks are…

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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Dividends Per Share Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 22,000 shares of cumulative preferred 2% stock, $110 par, and 73,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $32,340; second year, $74,460; third year, $104,990; fourth year, $152,060. Compute 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 1.47 ✓ Preferred stock (dividend per share) Common stock (dividend per share) 0 ✓ 3.39 X 1.02 X $ 4.77 X 1.44 X 4th Year 6.91 X 2.08 X
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