Question
Yorks outstanding stock consists of 70,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 120,000 shares of common stock with
Yorks outstanding stock consists of 70,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 120,000 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 $15,000
2016 total cash dividends 24,200
2017 total cash dividends 265,000
2018 total cash dividends 415,000
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. (Round your "Dividend per Preferred Share" answers to 3 decimal places.)
par value per preferred share | dividends | dividends per preferred shar | number of preferred shares | preferred dividends | |
annual preferred dividend | |||||
total cash dividends paid | paid to preferred | paid to common | dividends in arrears at year-end | ||
2015 | $ 15,000 | ||||
2016 | 24,200 | ||||
2017 | 265,000 | ||||
2018 | 415,000 | ||||
total: | $ 719,200 |
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