Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 4% stock, S25 par, and 13,000 shares of 575 par common.During its first four years of operations, the following amounts were distributed as dividends: first year, $3,800, second year, 36, 300; third vest, 529, 260; fourth year, 541,850, Determine the dividends per share on each class of stock for each of the four years, Round all answers to two decimal places. It no dewdends are paid in a gren year, enter "O".

Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 4% stock, S25 par, and 13,000 shares of 575 par common.During its first four years of operations, the following amounts were distributed as dividends: first year, $3,800, second year, 36, 300; third vest, 529, 260; fourth year, 541,850, Determine the dividends per share on each class of stock for each of the four years, Round all answers to two decimal places. It no dewdends are paid in a gren year, enter "O".

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 8RE: Given the following year-end information for Somerset Corporation, compute its basic earnings per...

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Given the following year-end information for Somerset Corporation, compute its basic earnings per share. Net income, 13,000 Preferred dividends declared, 4,000 Weighted average common shares for the year, 4,500
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