Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 3% stock, $25 par, and 25,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $5,800; second year, $9,400; third year, $50,550; fourth year, $85,500.