Question

Saved Help Seve 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 65,000 shares of noncumulative 6.0 % preferred stock with a $5 par value and aso 220,000 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 $ 9,300 2018 total cash dividends 2019 total cash dividends 5 210,000- 17,500 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 Prefeered Shares Dividend per Par Value per Preferred Share Preferred Share- Prefetred Dividend Dividend Rate Annual Preferred Dividend Total Cash Dividend Pald Paid to Preferred Pald to Common Dividends in Arrears at year-end 2016 $ 9.300 17.500 2017 210,000 2018 360 000 596 800 2019 S Totals

Answer 1

Exercise 11-9: Dividend on Common and Preferred Stock is Cumulative Distribution of Dividend to Preferred Stock and Common Stock Dividend Per Preferred Share Par Value per Preferred Share Number of Preferred Shares Dividend Rate Preferred Dividend Annual Preferred Dividend 6.0% 0.300 19500 5 65000 Divided in Paid to Total Dividend Preferred Paid to Common arrears at the Year end 2016 9300 9300 0 10200 2017 17500 17500 0 12200 178300 2018 210000 31700 0 2019 360000 19500 340500 0 Totals 596800 518800 78000