! Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) York's outstanding stock consists of 80,000 shares of nonicumulative 7.5% 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 Year 1 total cash dividends Year total cash dividends Year total cash dividends Year 4 total cash dividends $ 20,000 28,000 200,000 350.000 Determine the amount of dividends pald each year to each of the two classes of stockholders: preferred and common (Rom "Dividend per Preferred Share" answer to 3 decimal places.) Annual Preferred Dividend: Par Value per Dividend per Number of Preferred Dividend Rate Preferred Preferred Preferred Share Share Dividend Shares $ 5 00 7.5% S 0.375 80,000 S 30,000 Total Cash Paid to Paid to Dividends in Arrears at Dividend Paid Preferred Common year-end $ 20.000 $ 20 000 $ 0 28 000 28 000 200.000 0 350,000 0 $ 598 000 $ 48 000 $ 320,000 Year 1 Year 2 Year 3 Year 4 Total