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York's outstanding stock consists of 59,000 shares of cumulative 6.00% preferred stock with a $10 par value and also 147,500 shares of common stock
York's outstanding stock consists of 59,000 shares of cumulative 6.00% preferred stock with a $10 par value and also 147,500 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 2016 2017 2018 $ 28,000 28,275 82,900 130,400 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 2 decimal places.) Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Preferred Dividend Shares Annual Preferred Dividend: $ 10.00 6.0% $ 1.00 59,000 $ 59,000 Dividends in Total Cash Paid to Dividend Paid Preferred Paid to Common Arrears at year-end 2015 $ 28,000 $ 28,000 2016 28,275 28,275 2017 82,900 2018 130,400 Total $ 269,575 $ 56,275 $ 0
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