[The following information applies to the questions displayed below.] Yorks outstanding stock consists of 80,000 shares of noncumulative 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	$	20,000
Year 2 total cash dividends		28,000
Year 3 total cash dividends		200,000
Year 4 total cash dividends		350,000

Use the data in Exercise 11-10 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.)

(The following information applies to the questions displayed below.] York's outstanding stock consists of 80,000 shares of noncumulative 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 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 20,000 28,000 200,000 350,000 Use the data in Exercise 11-10 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.) Use the data in Exercise 11-10 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.) X Answer is complete but not entirely correct. Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: 5.00 7.5% $ 0.375 80,000 $ 30,000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 0 x Year 1 $ $ $ 0 Year 2 20,000 28,000 30,000 x 0 0 x 20,000 28,000 200,000 350,000 598,000 Year 3 0 Year 4 170,000 X 320,000 490,000 30,000 108,000 0 Totals $ $ $