Cezto.mheducation.com/hm.tpx value: 4.00 points York\'s outstanding stock consis

Question

Cezto.mheducation.com/hm.tpx value: 4.00 points York's outstanding stock consists of 41,000 shares of cumulative 10.00% preferred stock with a $10 par value and also 102,500 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 33,000 2016 2017 2018 111,000 35,750 76,000 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 2 decimal places.) Number of Preferred Dividend Par Value per Dividend per Preferred Shares Preferred Dividend Rate Preferred Share Share Annual Preferred Dividend: 0.00 10.0% S 1.00 41,000 S 41,000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end S 33,00033,000 35,750 54,250 41,000 8,000 2015 2016 2017 2018 Total 35,750 76,000 111,000 S 255,750 13,250 21,750 0,000 164,000 S 91,750 eBook &Resources; 15 MacBoo

Explanation / Answer

Par Value per Preferred Share Dividend rate Dividend per Preferred share Number of Preferred Shares Preferred dividend Annual Preferred Dividend : 10 10% 1 41,000 41,000 Total Cash Dividend Paid Paid to Preferred Paid to common Dividends in arrears at year end 2015 33,000 33,000 0 8,000 (41,000-33,000) 2016 35,750 35,750 0 13,250 (41,000-35,750+8,000) 2017 76,000 54,250 (41,000+13,250) 21,750 (76,000-54,250) 0 2018 111,000 41,000 70,000 (111,000-41,000) 0 Total 255,750 164,000 91,750

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