York's outstanding stock consists of 85,000 shares of 7.0% preferred stock with a $5 par value and also 260,000 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: $ 19,100 2015 total cash dividends 2016 total cash dividends 27,700 2018 total cash dividends 0,000 Exercise 11-9 Dividends on common and cumulative preferred stock LO C2 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Answer is not complete. Par Value Dividend Number of Dividend Rate Preferred Dividend per Preferred Share per Preferred Share Shares Annual Preferred Dividend: 85,000 $ 7.0% $ 5.00 0.350 29,750 Total Cash Dividend Paid Dividends in Arrears at year-end Paid to Preferred Paid to Common 19,100 $ 2015 19,100 2016 27,700 27,700 2017 0 C 230,000 29,750 200.250 2018 380,000 29,750 350.250 1 of 1 Prev Next