3 0 1 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: 18 Year 1 total cash dividends Year 2 total cash dividends 982223 19 17 Compute the annual preferred dividend Number of preferred shares Par value - preferred Preferred dividend % 20 21 13 Required: 14 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. 15 24 25 Ac $20,000 28,000 Year 1 Year 2 Year 3 Year 4 80,000 $5.00 7.5% Total: Total Cash Dividend Paid Year 3 total cash dividends Year 4 total cash dividends $20.000 28,000 200,000 350,000 $598,000 Number of common shares Par value - common Paid to Preferred Paid to Common $200,000 350,000 Formula must include the =MIN function 200,000 $1.00 Dividends in Arrears at year-end +

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York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends