Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 3% stock, $25 par, and 13,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,900; second year, $4,700; third year, $24,390; fourth year, $39,740. Determine 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".

Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 3% stock, $25 par, and 13,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,900; second year, $4,700; third year, $24,390; fourth year, $39,740. Determine 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".

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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