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Can someone help me fix and understand what was wrong Required information [The following information applies to the questions displayed below.) York's outstanding stock consists
Can someone help me fix and understand what was wrong
Required information [The following information applies to the questions displayed below.) York's outstanding stock consists of 70,000 shares of 8.0% preferred stock with a $5 par value and also 230,000 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: 2015 total cash dividends 2016 total cash dividends 2017 total cash dividends 2018 total cash dividends $ 17,700 26,000 215,000 365,000 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Preferred Dividend $ 28,000 Par Value Dividend Number of per Dividend per Preferred Preferred Rate Preferred Shares Share Share Annual Preferred 0.00 Dividend: 8.0% $ 0.400 70,000 Total Cash Paid to Paid to Dividends Dividend Preferred Common in Arrears Paid at year-end 2015 17,700 $ 17,700 $ 0 2016 26.000 26,000 0 2017 215,000 28,000 187,000 > 2018 365,000 28,000 337,000 0 Totals $ 623,700 $ 99,700 $ 524,000 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deductedStep by Step Solution
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