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ABC Corp has the following stock outstanding: 250,000 shares of $40 par value, 6% cumulative preferred stock; 350,000 shares of $.50 par value, common stock.
ABC Corp has the following stock outstanding: 250,000 shares of $40 par value, 6% cumulative preferred stock; 350,000 shares of $.50 par value, common stock. The company declares and pays the following dividends for the past four years:
2014 $550,000
2015 $625,000
2016 $800,000
2017 No dividends are paid.
Compute the total cash dividends paid to each class of stock in 2014 through 2017.
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