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York's outstanding stock consists of ( a ) 38,000 shares of noncumulative 8.5% preferred stock with a $5 par value and ( b ) 95,000
York's outstanding stock consists of (a) 38,000 shares of noncumulative 8.5% preferred stock with a $5 par value and (b) 95,000 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. |
2010 | $ | 12,920 |
2011 | 12,025 | |
2012 | 43,650 | |
2013 | 71,150 | |
Requirement 1: |
Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative |
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