Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $20 par, and 25,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,000; second year, $5,000; third year, $37,750; fourth year, $82,000. 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.
Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $20 par, and 25,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,000; second year, $5,000; third year, $37,750; fourth year, $82,000. 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Lightfoot Inc., a software development firm, has
stock outstanding as follows: 20,000 shares of
cumulative preferred 2% stock, $20 par, and 25,000
shares of $50 par common. During its first four years
of operations, the following amounts were
distributed as dividends: first year, $3,000; second
year, $5,000; third year, $37,750; fourth year,
$82,000. 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.
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