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York’s outstanding stock consists of 90,000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 160,000 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:
  

2015 total cash dividends	$19,800
2016 total cash dividends	29,500
2017 total cash dividends	285,000
2018 total cash dividends	435,000

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.)

Answer 1

			Par value	Dividend	Dividend	Number of	Preferred
			per	Rate	per	Preferred	Dividend
			Preferred		Preferred	Shares
			Share		Share
Annual Preferred Dividends			5	7.00%	0.35	90,000	31500
			total	paid to	paid to	Dividend in
			Cash	preferred	common	Arreat at
			div paid			yr end
2015			19,800	19,800		11,700
2016			29,500	29,500		13,700
2017			285,000	45,200	239,800
2018			435,000	31500	403,500
total			769,300	126,000	643,300