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Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Yorks outstanding stock consists of 80,000 shares of
Use the following information for the Exercises below.
[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 190,000 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:
2015 total cash dividends 2016 total cash dividends 2017 total cash dividends 2018 total cash dividends $ 18,00e 28,000 300,000 450,000 Exercise 11-8 Dividends on common and noncumulative preferred stock LO C2 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Dividend per Number of Preferred Preferred Dividend Par Value per Preferred Dividend Rate Preferred Share Share Shares Annual Preferred Dividend: Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2015 2016 2017 2018 Total: 18,000 28,000 300,000 450,000 $ 796,000 $ Exercise 11-9 Dividends on common and cumulative preferred stock LO C2 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Par Value per Dividend per Number of Preferred Shares Preferred Dividend Preferred Dividend Rate Preferred Share Share Annual Preferred Dividend: Paid to Common Dividends in Arrears at year-end Total Cash Paid to Preferred 2015 2016 2017 2018 Totals Dividend Paid 18,000 28,000 300,000 450,000 $ 796,000 $
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