[The following information applies to the questions displayed below.]

Year 1 total cash dividends	$	15,500
Year 2 total cash dividends		24,000
Year 3 total cash dividends		225,000
Year 4 total cash dividends		375,000

rev: 11_12_2020_QC_CS-240359

Exercise 13-10 Dividends on common and noncumulative preferred stock LO C2

Yorks outstanding stock consists of 80,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 250,000 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:

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.)

	Par Value per Preferred Share	Dividend Rate	Dividend per Preferred Share	Number of Preferred Shares	Preferred Dividend
Annual Preferred Dividend:	$5.00	7.5%
	Total Cash Dividend Paid	Paid to Preferred	Paid to Common	Dividends in Arrears at year-end
Year 1	$15,500
Year 2	24,000
Year 3	225,000
Year 4	375,000
Total:	$639,500	$0	$0