Michelangelo Inc., a software development firm, has stock outstanding as follows

Question

Michelangelo Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 2%, preferred stock of $30 par, and 31,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $5,750; second year, $8,000; third year, $56,980; fourth year, $102,420. 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".

Please show detailed calculation. Thank you

Explanation / Answer

calculation

1 year 2 year 3 year 4 year Dividend paid to preference 5750 8000 31250 15000 divdend paid to common stock 0 0 25730 87420

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