York$$s outstanding stock consists of $80,000$ shares of cumulative $7\mathrm{.}5\%$ preferred stock with a $$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 $$20,000$ Year $3$ total cash dividends $$200,000$

Year $2$ total cash dividends $28,000$ Year $4$ total cash dividends $350,000$

Number of preferred shares $80,000$ Number of common shares $200,000$

Par value $-$ preferred $$5$ Par value $-$ common $$1$

Preferred dividend $\%7\mathrm{.}5\%$

Required: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.

Compute the total annual preferred dividend:

Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year$-$end

Year $1$ $$20,000$

Year $228,000$

Year $3200,000$

Year $4350,000$

Totals $$598,000$