10.00 points York\'s outstanding stock consists of 42.000 shares of noncumulativ

Question

10.00 points York's outstanding stock consists of 42.000 shares of noncumulative 7.90% preferred stock with a $10 par value and also 105,000 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 $ 27,000 2016 2017 2018 197,000 31,180 110,000 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 "Dividend Rate (%)" to 1 decimal place and "Dividend per Preferred Share" to 2 decimal places.) Par Value per Number o Preferred Dividend Dividend per Preferred Preferred Dividend Rate Preferred Share Share Shares Annual Preferred Dividend: Paid to Preferred Paid to Commorn Dividends in Arrears at Total Cash Dividend Paid 27,000 31,180 110,000 197,000 ear-end 2015 2016 2017 2018 Total: 5 365,180 S

Explanation / Answer

Dividend distribution :

Par value per preferred share Dividend rate Dividend per preferred shares Number of preferred shares Preferred dividend Annual preferred dividend 10 7.9% 0.79 42000 33180 Total cash dividend paid Paid to preferred Paid to common Dividend in arrears at year end 2015 27000 27000 0 0 2016 31180 31180 0 0 2017 110000 33180 76820 0 2018 197000 33180 163820 0 Total 365180 124540 240640 0

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