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I need help with this problem. I am able now know the cummulative way just not the noncummulative and I am unsure if there is
I need help with this problem. I am able now know the cummulative way just not the noncummulative and I am unsure if there is a huge difference when solving this problem.
York's outstanding stock consists of 65,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 220,000 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 $ 9,300 17,500 210,900 360,000 Exercise 13-8 Dividends on common and noncumulative preferred stock Lo C2 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 Dividend per Number of Preferred Dividend Rate Preferred Preferredterre SharesDividend 65,000 19,500 Share Share Annual Preferred Dividend: 5.00 6.09 $ 0.300 Dividends in Arrears at year-end Paid to Paid to Common Total Cash Dividend PaidPreferred 2015 2016 2017 2018 Total: 9,300 S 9,300 $ 17,500 210,000 360,000 17,500 $ 596,800 $ 26,800 SStep by Step Solution
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