Required information (The following information applies to the questions display

Question

Required information (The following information applies to the questions displayed below] rt 2 of 2 York it outstanang stock consists of 75000 shares of noncumulative 60% preferred stock with a $5 par value and also 240,000 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 $ 12,100e 20,589 220,800 370,000 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the p cumulative Also determine the total dividends paid to each class for the four years combined (Round your "Dividend per Share" answers to 3 decimal places.) Dividend per r of Paid to Paid to Dividend PaidPreferred Total Cash Arrears at 12,100 2015 2016 2017 2018 20.500 370,000 $ 622,600 $ 0 f 13 … Next>

Explanation / Answer

Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend $5 6% $0.30 75,000 $22,500.00 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2015 $12,100 $12,100.00 $0.00 $10,400 2016 $20,500 $20,500.00 $0.00 $12,400 2017 $220,000 $34,900.00 $185,100.00 $0 2018 $370,000 $22,500.00 $347,500.00 $0 Total $622,600 $90,000.00 $532,600.00 $0

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