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I am having difficulty solving this question. I have tried to find different solutions but they didn't work so please resolve the whole question the
I am having difficulty solving this question. I have tried to find different solutions but they didn't work so please resolve the whole question the from the scratch.
NOTE: PREFERRED AND COMMON IN THE QUESTION SECTION.
Required information [The following information applies to the questions displayed below.) York's outstanding stock consists of 80,000 shares of noncumulative 75% 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. $20,000 $200,000 2016 total cash dividends 2017 total cash dividends 2018 total cash dividends 2019 total cash dividends 28,000 350,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: 2016 2017 Dividends in Total Cash Paid to Paid to Arrears at Dividend Paid Preferred Common year-end $ 20,000 $ 20,000 $ 0 $ 20,000 28,000 28,000 0 28,000 200.000 30,000 170,000 200,000 350,000 30.000 320,000 350,000 $ 598,000 $ 108,000 $ 490,000 2018 2019 TotalStep by Step Solution
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