York’s outstanding stock consists of 85,000 shares of
noncumulative 6.0% preferred stock with a $5 par value and
also 150,000 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 |
$ |
13,900 |
| 2016 total cash dividends |
|
23,500 |
| 2017 total cash dividends |
|
280,000 |
| 2018 total cash dividends |
|
430,000 |
|
|
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 your "Dividend per Preferred Share" answers to 3
decimal places.)
|
|
|
|
Par Value per Preferred Share |
Dividend Rate |
Dividend per Preferred Share |
Number of Preferred Shares |
Preferred Dividend |
| Annual Preferred
Dividend: |
|
|
|
|
|
|
|
Total Cash Dividend Paid |
Paid to Preferred |
Paid to Common |
Dividends in Arrears at year-end |
|
| 2015 |
$13,900 |
|
|
|
|
| 2016 |
23,500 |
|
|
|
| 2017 |
280,000 |
|
|
|
| 2018 |
430,000 |
|
|
|
| Total: |
$747,400 |
$0 |
$0 |
|
|