FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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, $32,670; fourth year, $59,350.

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) $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4
Common stock (dividend per share) $fill in the blank 5 $fill in the blank 6
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Step 1

Dividend per share is calculated by dividing the respective class dividend by number of respective class share outstanding.

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