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 | |
$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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