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York's outstanding stock consists of 65,000 shares of cumulative 7.0% preferred stock with a $5 par value and also 110,000 shares of common stock
York's outstanding stock consists of 65,000 shares of cumulative 7.0% preferred stock with a $5 par value and also 110,000 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: Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Preferred Dividend Shares Annual Preferred Dividend: $ 5.00 7.0% $ 0.350 65,000 $ 22,750 Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Arrears at Common year-end Year 1 $ 11,500 $ 11,500 $ 0 Year 2 20,700 20,700 0 Year 3 260,000 0 Year 4 410,000 0 Totals $ 702,200 $ 32,200 $ 0 Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 11,500 20,700 260,000 410,000
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