Question
Yorks outstanding stock consists of 60,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 280,000 shares of common stock with
Yorks outstanding stock consists of 60,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 280,000 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 $ 13,200 2016 total cash dividends 22,000 2017 total cash dividends 240,000 2018 total cash dividends 390,000 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.)
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