[The following information applies to the questions
York’s outstanding stock consists of 65,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 220,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.
|Year 1 total cash dividends||$||9,300|
|Year 2 total cash dividends||17,500|
|Year 3 total cash dividends||210,000|
|Year 4 total cash dividends||360,000|
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)
If you have any doubts please comment on the answer
Get Answers For Free
Most questions answered within 1 hours.