Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 4% stock, $20 par, and 25,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $6,000; second year, $10,000; third year, $52,000; fourth year, $84,000. 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. 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) Common stock (dividend per share)

Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 4% stock, $20 par, and 25,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $6,000; second year, $10,000; third year, $52,000; fourth year, $84,000. 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. 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) Common stock (dividend per share)

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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