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Yorks outstanding stock consists of 80,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 300,000 shares of common stock with
Yorks outstanding stock consists of 80,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 300,000 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 | $ | 13,000 |
Year 2 total cash dividends | 22,000 | |
Year 3 total cash dividends | 250,000 | |
Year 4 total cash dividends | 400,000 | |
Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)
Dividend per Preferred Share Par Value per Preferred Number of Preferred Shares Preferred Dividend Dividend Rate Share Annual Preferred Dividend: Dividends in Arrears at Paid to Preferred Paid to Common Total Cash Dividend Paid year-end Year 1 13,000 Year 2 22,000 Year 3 250,000 400,000 Year 4 685,000 $ Totals $ 0
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