Lightfoot Inc., a software development firm, has stock outstanding as follows: 36,000 shares of cumulative preferred 1% stock, $120 par and 93,000 shares of $140 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $30,000; second year, $51,000; third year, $72,000; fourth year, $120,000. 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.