Yorks outstanding stock consists of 31000 shares of noncumul

York’s outstanding stock consists of 31,000 shares of noncumulative 6.00% preferred stock with a $10 par value and also 77,500 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: 2015 $ 15,000 2016 17,600 2017 110,000 2018 193,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. (Round \"Dividend Rate (%)\" to 1 decimal place and \"Dividend per Preferred Share\" to 2 decimal places.)

Solution

Annual preferred dividend = 31000*10*6% = 18600

Dividend distribution :