FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Dividends per share
Lightfoot Inc., a software development firm, has stock outstanding as follows: 46,000 shares of cumulative preferred 1% stock, $120 par and 99,000
shares of $130 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $39,000; second
year, $55,000; third year, $80,000; fourth year, $129,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet,
perform the required analysis, and input your answers in the questions below.
X
Open spreadsheet
Determine 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 given year, enter "0".
1st Year
2nd Year
3rd Year
4th Year
Preferred stock (dividends per share) $
0.85 V $
1.20 v $
1.74
X $
2.80 X
Common stock (dividends per share)
24
%24
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Transcribed Image Text:Dividends per share Lightfoot Inc., a software development firm, has stock outstanding as follows: 46,000 shares of cumulative preferred 1% stock, $120 par and 99,000 shares of $130 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $39,000; second year, $55,000; third year, $80,000; fourth year, $129,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet Determine 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 given year, enter "0". 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividends per share) $ 0.85 V $ 1.20 v $ 1.74 X $ 2.80 X Common stock (dividends per share) 24 %24
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