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Annual Preferred Dividend: Par Value per Preferred Share Dividend Rate Dividend per Preferred Number of Preferred Preferred Dividend Share Shares Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 19,100 Year 2 27,700 Year 3 230,000 Year 4 380,000 Totals $ 656,800 $ 0 $ 0

Annual Preferred Dividend: Par Value per Preferred Share Dividend Rate Dividend per Preferred Number of Preferred Preferred Dividend Share Shares Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 19,100 Year 2 27,700 Year 3 230,000 Year 4 380,000 Totals $ 656,800 $ 0 $ 0

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.2.3MBA
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York’s outstanding stock consists of 85,000 shares of cumulative 7.0% preferred stock with a $5 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:
 
Note: Round your "Dividend per Preferred Share" answer to 3 decimal places.
Year 1 total cash dividends $ 19,100
Year 2 total cash dividends 27,700
Year 3 total cash dividends 230,000
Year 4 total cash dividends 380,000
 
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.
Annual Preferred Dividend: Par Value per Preferred Share Dividend Rate Dividend per Preferred Number of Preferred Preferred Dividend Share Shares Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 19,100 Year 2 27,700 Year 3 230,000 Year 4 380,000 Totals $ 656,800 $ 0 $ 0
Transcribed Image Text:Annual Preferred Dividend: Par Value per Preferred Share Dividend Rate Dividend per Preferred Number of Preferred Preferred Dividend Share Shares Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 19,100 Year 2 27,700 Year 3 230,000 Year 4 380,000 Totals $ 656,800 $ 0 $ 0
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