Question

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) York's outstanding stock consists of 90,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 100,000 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. 2016 total cash dividends 2017 total cash dividends $ 18,100 27,200 2018 total cash dividends 2019 total cash dividends $ 255,000 405,000 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.)

Answer 1

dividend Par value Per preferred Dividend No of Per preferred Preferred Preferred dividend rate Share Share Share Annual preferred dividend $5 6.5% $0.395 90 ३२७२६० dividend in Paid to Preferred faid to Common arrears at year end Total Cash dividend paid $ 18150 $ 27200 $2550vo Year I $ Year 2 Year 3 year y $18100 $ 2200 $99250 $29050 $0 9335750 $375750 5 yoJovo