Required information Use the following information for the Exercises below. [The

Question

Required information

Use the following information for the Exercises below.

[The following information applies to the questions displayed below.]

York’s outstanding stock consists of 85,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 150,000 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:
  

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.)

2015 total cash dividends $ 13,900 2016 total cash dividends 23,500 2017 total cash dividends 280,000 2018 total cash dividends 430,000

Explanation / Answer

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

Preferred Preferred dividend per share Common Total 2015 total cash dividends 13900 0.164 0 0 13900 2016 total cash dividends 23500 0.276 0 0 23500 2017 total cash dividends 39100 0.46 240900 1.606 280000 2018 total cash dividends 25500 0.30 404500 2.697 430000

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