Question
Yorks outstanding stock consists of 75,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 130,000 shares of common stock with
Yorks outstanding stock consists of 75,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 130,000 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.
Year 1 total cash dividends | $ | 18,600 |
Year 2 total cash dividends | 28,000 | |
Year 3 total cash dividends | 270,000 | |
Year 4 total cash dividends | 420,000 | |
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred "Dividend per Preferred Share" answer to 3 decimal places.) Par Value per Preferred Share Dividend Rate Dividend per Number of Preferred Preferred Share Shares Preferred Dividend Annual Preferred Dividend: Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end $ Year 1 Year 2 Year 3 Year 4 18,600 28,000 270,000 420,000 736,600 Total: $ $ 0 $ 0
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