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previous question York's outstanding stock consists of 90,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 100,000 shares of common
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York's outstanding stock consists of 90,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 100,000 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. Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 18,100 27,200 255,000 405,000 Use the data in Exercise 11-10 to determine the amount of dividends pald each year to each of the two classes of stock assuming that the preferred stock is cumulative. (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Annual Preferred Dividend Par Valus per Dividend per Number of Preferred Dividend Rate Preferred Preferred Preferred Dividend Share Share Shares $5.00 65% 0.325I90,000 $ 29 250 Total Cash Paid to Paid to Dividendsin Dividend Paid Preferred Common Ancatat year end S 18.100 18,100 SOLO 27 200 272000 255,000 29,250 225,750 LEO 405,000 29,250375,750 $ 705,300 $ 103,800 $ 001,500 Year 1 Year 2 Year 3 Year 4 Totals i ne fonowing information applies to the questions displayed below. York's outstanding stock consists of 90,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 100,000 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. Year 1 total cash dividends Year 2 total cash dividendo Year 3 total cash dividends Year 4 total cash dividends $ 18,100 27.200 255,000 405,000 Determine the amount of dividends pad each year to each of the two classes of stockholders preferred and common (Round your "Dividend per Preferred Shore" answer to 3 decimal places.) Par Value per Preferred Share S 5.00 Annual Preferred Dividend: Totalcach Dividend Paid Answer is complete and correct. Dividend Number Dividend per Cor Preferred Rate Preferred Preferred Dividend Shang Shares 0.5% 0.325 90.000 3 29.250 Dividends Paid to Paid to in Arrears Preferred Common al years end 18.1003 OS 0 27,200 0 og 29,250 225,750 29,250 375750 0 103,800 $ 601,500 Year 1 Year 2 Year 3 $ 18 100 27 200 255,000 405.000 $ 705,300 Year 4 Total Step by Step Solution
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