Required information [The following information applies to the questions displayed below.] York's outstanding stock consists of 70,000 shares of noncumulative 8.5% preferred stock with a $5 par value and also 290,000 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 i total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 18,800 27,700 245,000 395,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your Dividend per Preferred Share" answer to 3 decimal places.) Answer is complete and correct. Par Value per Preferred Share $ 5.00 Dividend Dividend per Rate Preferred Share 8.5%$ 0.425 Annual Preferred Dividend: Number of Preferred Preferred Dividend Shares 70,000 $ 29,750 Dividends in Arrears at year- end Total Cash Dividend Paid Paid to Preferred Paid to Common $ Year 1 Year 2 Year 3 Year 4 Total: 18,800 27,700 245,000 18,800 27,700 29.750 29,750 106,000 0 215,250 395,000 365,250 $ 580,500 $ 686,500 Required information [The following information applies to the questions displayed below.] York's outstanding stock consists of 70,000 shares of noncumulative 8.5% preferred stock with a $5 par value and also 290,000 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 i total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 18,800 27,700 245,000 395,000 Use the data in Exercise 13-10 to determine the amount of dividends paid 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.) Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end Year 1 $ 18,800 Year 2 Year 3 Year 4 27,700 245,000 395,000 686,500 Totals $ $ 0 $ 0