9 D Thu 218 PM a Help Save Exlt Submit Check my Requilred in

9% D Thu 2:18 PM a Help Save &Exlt; Submit Check my Requilred information The foowing information applies to the questions displayed below York\'s outstanding stock consists of 8500 shares of noncumulate 70% preferred stock with a S5 par value and also 260.000 shares of common stock with a $t par velue. During its first four years of operation, the corporation declared and paid the following total cash dividends 2015 total cash dividends 19,100 2016 total cash dividends 230,000 380,000 2018 total cash dividends Exercise 11-9 Dividends on common and cumulative preferred stock LO C2 classes of stockholders assuming that the preferred stock is Determine the amount of dividends paid each year to each of the two 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) MacBook Pro

Solution

Par value per dividend share 5 Dividend rate 7% Dividend per preference share 0.35 Number of preference stock 85000 Preference dividend 29750 Total cash Dividend in arrear at divided paid Paid to preferred Paid to common Year end 2015 19100 19100 0 10650 (29750-19100) 2016 27700 27700 0 12700 (10650+29750-27700) 2017 230000 42450 187550 0 2018 380000 29750 350250 0 Total 656800 119000 537800