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 60,000 shares of 7.0% preferred stock with a $5 par value and also 210,000 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 $ 10,900 19,000 205,000 355,000 2015 total cash dividends 2016 total cash dividends 2017 total cash dividends 2018 total cash dividends Exercise 11.9 Dividends。n 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.) Par Value per Dividend per Number o Preferred Shares Preferred Dividend Preferred Dividend Rate Preferred Share Share Annual Preferred Dividend: Dividends in Arrears at year-end Paid to Dividend PaidPreferred Total Cash Paid to Commorn 10,900 19,000 205,000 355,000 2015 2016 2017 2018 Totals $ 589,900$

Answer 1

If Preferred Stocks are Cumulative: Par Value per Dividend per Number of Preferred Dividend Preferred Dividend RatePreferred Preferred Shares Share Share Annual Preferred 7.00% 0.35 5.00 60000 21000 Dividend Dividends in Arrears at year en 10100 12100 0 0 Total Cash Paid to Paid to Dividend Paid Preferred Common 2015 2016 2017 2018 Total 10900 19000 205000 355000 589900 10900 19000 33100 21000 84000 0 0 171900 334000 505900