Required informa Use the following information for the Exercises below. The foll
ID: 2585815 • Letter: R
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Required informa Use the following information for the Exercises below. The following information applies to the questions displayed below] York's outstanding stock consists of 70,000 shares of noncumulative 60% preferred stock with a $5 par value and also paid the following total cash dividends tion common stock with a S1 par value. During its frst four years of operation, the corporetion declared and 2815 total cash dividends 2016 total cash dividends 2817 total cash dividends 2818 total cash dividends $ 9,180 19,000 295,000 445,880 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) Number of Preferred Dividend Par Value per Preferred Dividend Rate PreferredPreterred hare Share Shares Annual Preferred Dividend Dividends inExplanation / Answer
In case Preferred shared are Cumulative
Par Value per Preferred share
Dividend rate
Dividend per preferred Share
Number of Preferred Shares
Preferred Dividend
Annual Preferred Dividend
$5
6%
0.3
70,000
$21,000
Total Cash Dividend Paid
Paid to Preferred
Paid to Common Stock
Dividend in Arrears at year-end
2015
$9,100
$9,100
$11,900
2016
$19,000
$19,000
$13,900
2017
$2,95,000
$34,900
$2,60,100
$0
2018
$4,45,000
$21,000
$4,24,000
$0
Totals
$7,68,100
$84,000
$6,84,100
In case Preferred shared are Non-Cumulative
Par Value per Preferred share
Dividend rate
Dividend per preferred Share
Number of Preferred Shares
Preferred Dividend
Annual Preferred Dividend
$5
6%
0.3
70,000
$21,000
Total Cash Dividend Paid
Paid to Preferred
Paid to Common Stock
Dividend in Arrears at year-end
2015
$9,100
$9,100
$0
2016
$19,000
$19,000
$0
2017
$2,95,000
$21,000
$2,74,000
$0
2018
$4,45,000
$21,000
$4,24,000
$0
Totals
$7,68,100
$70,100
$6,98,000
In case Preferred shared are Cumulative
Par Value per Preferred share
Dividend rate
Dividend per preferred Share
Number of Preferred Shares
Preferred Dividend
Annual Preferred Dividend
$5
6%
0.3
70,000
$21,000
Total Cash Dividend Paid
Paid to Preferred
Paid to Common Stock
Dividend in Arrears at year-end
2015
$9,100
$9,100
$11,900
2016
$19,000
$19,000
$13,900
2017
$2,95,000
$34,900
$2,60,100
$0
2018
$4,45,000
$21,000
$4,24,000
$0
Totals
$7,68,100
$84,000
$6,84,100
In case Preferred shared are Non-Cumulative
Par Value per Preferred share
Dividend rate
Dividend per preferred Share
Number of Preferred Shares
Preferred Dividend
Annual Preferred Dividend
$5
6%
0.3
70,000
$21,000
Total Cash Dividend Paid
Paid to Preferred
Paid to Common Stock
Dividend in Arrears at year-end
2015
$9,100
$9,100
$0
2016
$19,000
$19,000
$0
2017
$2,95,000
$21,000
$2,74,000
$0
2018
$4,45,000
$21,000
$4,24,000
$0
Totals
$7,68,100
$70,100
$6,98,000
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