Required Informetlon The following Information applies to the questions displaye

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Required Informetlon The following Information applies to the questions displayed below York's outstanding stock consists of 60,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 280,000 shares of common stock with a $1 par value. During Its first four years of operation, the corporation declared and pald the following total cash dividends: 2015 total cash dividends 2816 total cash dividends 2817 total cash dividends 2018 total cash dividends $13,280 22,800 248,800 398,80 Determine the amount of dividends pald each year to each of the two classes of stockholders assuming that the preferred stock IsS cumulative. Also determine the total dividends pald to each class for the four years combined. (Round your "Dlvldend per Preferred Share" answers to 3 declmal places.) Par Value per Preferred Share per Num Preferred Dividend Dividend Rate Preferred Preferred Shares Share Annual Preferred Dividend 5.00 8.0% 0.400 80,000 S 24,000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at r-end 2015 2016 2017 2018 Totals 13,200 S 13,200 S 22,000 240,000 390,000 665,200 S 22,000 24,000 66,000 59.2004S 66,000

Explanation / Answer

Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: 5 8.00% 0.4 60,000 24000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2015 13200 13200 2016 22,000 22,000 2017 2,40,000 24,000 2,16,000 2018 3,90,000 24,000 3,66,000 Total: 665200 83200 582000

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