Q o a Thu 219 PM Help SaveEft Submit ma Appendix GA Homework

Q o a Thu 219 PM Help Save&Eft; Submit ma Appendix GA Homework 5 Required information Use the following information for the Exercises below. The following information applies to the questions displeyed below York\'s outstanding stock consists of 85,000 shares or noncumulative 70% preferred stock with a SS par value and also 260,000 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 2018 total eash dividenda 27,700 230,000 380,000 Exercise 11-8 Dividends on common ahd noncumulative preferred stock LO C2 Determine the amount of dividends paid each year to each of the two classes of stockhoiders: preferred and common.Also compute the total dividends paid to each class for the four years combined. (Round your \"Dividend per Preferred Share\" answers to 3 declma places.) MacBook Pro 20

Solution

Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: $5.00 7.00% $0.35 85,000 $29,750 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2015 $19,100 $19,100 2016 27,700 27,700 2017 230,000 29,750 200,250 2018 380,000 29,750 350,250 Total: 656800 $106,300 550500