Dividends per shareLightfoot Inc., a software development firm, has stock outstanding as follows: 49,000 shares of cumulative preferred 1% stock, $110 par and 97,000 shares of $145 parcommon. During its first four years of operations, the following amounts were distributed as dividends: first year, $26,000; second year, $67,000; third year, $77,000;fourth year, $125,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input youranswers in the questions below.XOpen spreadsheetDetermine the dividends per share on each class of stock for each of the four years. Round your answers to the nearest cent. If no dividends are paid in a givenyear, enter "0".1st Year2nd Year3rd YearPreferred stock (dividends per share) $0.531.37Common stock (dividends per share) $00$4th Year1.4$1.1

Step 1: Solve for the preferred stockholder's dividends Note that the preferred stocks are…

Answered: Dividends per share Lightfoot Inc., a…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 21E

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Similar questions

Brunleigh Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is Brunleigh Corporations weighted average number of shares for the year?
Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)
Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.
Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)
Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is Jupiter Corporations weighted average number of shares for the year?
Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?
James Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the EPS for the year for James (rounded to the nearest dollar)?
Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 3% stock, $20 par, and 19,000 shares of $75 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,450; second year, $5,700; third year, $31,720; fourth year, $56,120. 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) ? ? ? ?
Per Share Lightfoot Inc., a software development firm, has stock outstanding as follows: 30,000 shares of cumulative preferred 4% stock, $20 par, and 38,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $9,000; second year, $15,000; third year, $82,960; fourth year, $142,940. 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) 0.30 %24 0.50 V 1.60 V 0.80 Common stock (dividend per share) Feedback Check My Work Is the preferred stock cumulative or non-cumulative stock? Determine what amount of current dividends that preferred stock should receive per %24
Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $28,910; fourth year, $55,380. 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".

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