Question

# Dividends Per Share Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares...

Dividends 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 \$50 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, \$50,250; fourth year, \$78,000.

Calculate 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".

 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) \$ \$ \$ \$ Common stock (dividend per share) \$ \$ \$ \$

PLEASE MAKE SURE IT'S ANSWERED CORRECTLY AND ROUNDED OFF TO TWO DECIMAL PLACES. THANK YOU!

Cumulative preferred dividends=\$20*20,000*4%

=\$16,000

First Year preferred dividend arrears=\$16,000-\$6,000

=\$10,000

second Year preferred dividend arrears=\$16,000-\$10,000

=\$6,000

Third year preferred dividend+preferred dividend arrears

=\$16,000+\$10,000+\$6,000

=\$32,000

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