Required information [The following information applies to the questions displayed below.) York's outstanding stock consists of 80,000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 140,000 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 $ 16,500 26,000 275,000 425,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and co "Dividend per Preferred Share" answer to 3 decimal places.) per Preferred Dividend $ 32,000 Par Value Dividend Number Dividend per of Preferred Rate Preferred Preferred Share Share Shares Annual Preferred $ 5.00 7.0% $ 0.350 80,000 Dividend: Dividends Total Cash Paid to Paid to in Arrears Dividend Preferred Paid Common at year- end Year 1 16,500 $ 16,500 $ 0 $ 15,500 Year 2 26,000 26,000 0 6,000 Year 3 275,000 28,000 243,000 0 Year 4 425,000 28,000 393,000 X 0 Total: 742,500 s 98,500 $ 636,000 "Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. OO