Michelangelo Inc., a software development firm, has stock outstanding as follows
ID: 2449225 • Letter: M
Question
Michelangelo Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative 4%, preferred stock of $25 par, and 13,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,800; second year, $5,300; third year, $32,860; fourth year, $50,690. Calculate the dividends per share 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 year, enter "0". 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) $ $ $ $ Common stock (dividend per share) $ $ $ $
Explanation / Answer
Michelangelo Inc., a software development firm, has stock outstanding as follows