Question
Lightfoot Inc., a software development firm, has stock outstanding as follows: 45,000 shares of cumulative preferred 1% stock, $105 par and 94,000 shares of $125
Lightfoot Inc., a software development firm, has stock outstanding as follows: 45,000 shares of cumulative preferred 1% stock, $105 par and 94,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $36,000; second year, $53,000; third year, $71,000; fourth year, $119,000.
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
Prefererred Stock (Dividends per share) $ $ $ $
Common stock (dividends per share) $ $ $ $
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