York\'s outstanding stock consists of 44,000 shares of noncumulative 7.40% prefe

Question

York's outstanding stock consists of 44,000 shares of noncumulative 7.40% preferred stock with a $10 par value and also 110,000 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: 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 "Dividend Rate (%)" to 1 decimal place and "Dividend per Preferred Share" to 2 decimal places.)

Explanation / Answer

Total Cash Dividend paid Paid to preferred paid to common dividends in Arrear 2015 26000 32560 26000 6560 2016 30560 39120 30560 8560 2017 100000 41120 41120 58880 0 2018 198000 32560 32560 165440 Total

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