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Yorks outstanding stock consists of 60,000 shares of 7.0% preferred stock with a $5 par value and also 210,000 shares of common stock with a

Yorks outstanding stock consists of 60,000 shares of 7.0% preferred stock with a $5 par value and also 210,000 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 $ 10,900
2016 total cash dividends 19,000
2017 total cash dividends 205,000
2018 total cash dividends 355,000

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. Assume that the preferred stock is noncumulative. (Round your "Dividend per Preferred Share" answers to 3 decimal places.)

image text in transcribedDetermine 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.)

image text in transcribed

Par Value per Preferred Dividend per Preferred Number of Preferred Dividend Preferred Dividend Rate Share Share Shares Annual Preferred Dividend: Dividends in Total Cash Paid to Paid to Arrears at Preferred Dividend Paid Common year-end $ 2015 10,900 19,000 2016 205,000 2017 355,000 2018 $ 589,900 $ 0 0 Total: EF Par Value per Dividend per Preferred Number of Preferred Dividend Preferred Share Dividend Rate Preferred Share Shares Annual Preferred Dividend: Dividends in Arrears at Total Cash Dividend Paid Paid to Preferred Paid to Common year-end $ 2015 10,900 2016 19,000 205,000 2017 2018 355,000 $ 589,900 Totals

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