Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

Exercise 1

Dividends per share
Lightfoot Inc., a software development firm, has stock outstanding as follows: 40,000 shares of cumulative preferred 1% stock, $125 par, and 100,000 shares of $150 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $36,000; second year, $58,000; third year, $75,000; fourth year, $124,000.
Compute the dividends per share on each class of stock for each of the four years.