structions Fork Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 30,000 shares of preferred 2% stock, $100 par and 500,000 shares of $10 par common stock. he following selected transactions were completed during the first year of operations: July 1 1 Issued 212,000 shares of common stock at par for cash. Issued 300 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation Issued 66,400 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $148,100, $521,840 and $166.700 respectively. Issued 15,000 shares of preferred stock at $108 for cash. Aug 7. Sept. 20. Ch 13-14 Homework Dividends Per Share Lightfoot , Inc., a software development firm, har stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock $20 par, and 25,000 shares of $125 por common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,000 second year $5,000, third year, 536,000, fourth year $76,000 Calculate the dividends per thare 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 your enter" 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) 3,000 Common stock (dividend per share)