Recuired information The following information applies to the questions displaye

Question

Recuired information The following information applies to the questions displayed below.] York's 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 2016 total cash dividends 2017 total cash dividends 2018 total cash dividends $15,000 24,200 265,000 415,000 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 yur "Dividend per Preferred Share" answers to 3 decimal places.) Par Value per ividend per Number of Preferred Shares Preferred Dividend Preferred Dividend Rate Preferred Share Share Annual Preferred Dividend: Paid to Common Dividends in Arrears at year-end Total Cash Paid to Preferred 2015 2016 2017 2018 Total Dividend Paid 15,000 24,200 265,000 415,000 $ 719,200 $ 0

Explanation / Answer

Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend:                                                               5 7.50% 0.375 70000 26250 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2015                                                    15,000                         15,000 2016                                                    24,200                         24,200 2017                                                2,65,000                         26,250                                             2,38,750 2018                                                4,15,000                         26,250                                             3,88,750 Total                                                7,19,200                         91,700                                             6,27,500                                                        -

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