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Requlred Informetlon [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 2815 total cash dividends 2016 total cash dividends 2817 total cash dividends 2018 total cash dividends $13,98e 23, 58e 288,8ae 438,88e 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 "Divldend per Preferred Share" answers to 3 declmal pleces.) Par Value per Preferred Share Preferred Preferred Dividend Dividend Rate Preferred Share Shares Annual Preferred Dividend Total Cash Dividend Paid Preferred Paid to Paid to Arrears at year-end 2015 2016 2017 2018 Totals 13,900 23,500 280,000 430,000 747.400

Explanation / Answer

Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: 5 6.00% 0.3 85,000 25500 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2015 13900 13900 2016 23,500 23,500 2017 2,80,000 25,500 2,54,500 2018 4,30,000 25,500 4,04,500 Total: 747400 25,500 7,21,900

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