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[The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends Exercise 13-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 80,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 250,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Total: Par Value per Preferred Share $ Total Cash Dividend Paid $ 5.00 $ $ 15,500 24,000 225,000 375,000 Dividend Rate 15,500 $ 24,000 225,000 375,000 639,500 $ 6.5% Paid to Preferred 15,500 Dividend per Number of Preferred Preferred Shares Share $ 0.325 Paid to Common 15,500 $ 0 80,000 $ 26,000 Dividends in Arrears at year-end Preferred Dividend 0 0

[The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends Exercise 13-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 80,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 250,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Total: Par Value per Preferred Share $ Total Cash Dividend Paid $ 5.00 $ $ 15,500 24,000 225,000 375,000 Dividend Rate 15,500 $ 24,000 225,000 375,000 639,500 $ 6.5% Paid to Preferred 15,500 Dividend per Number of Preferred Preferred Shares Share $ 0.325 Paid to Common 15,500 $ 0 80,000 $ 26,000 Dividends in Arrears at year-end Preferred Dividend 0 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends Exercise 13-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 80,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 250,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Total: Par Value per Preferred Share $ $ 15,500 24,000 225,000 375,000 5.00 Total Cash Dividend Paid $ Dividend Rate 15,500 $ 24,000 225,000 375,000 639,500 $ 6.5% Paid to Preferred 15,500 15,500 Dividend per Number of Preferred Preferred Shares Share $ 0.325 Paid to Common O 80,000 $26,000 Dividends in Arrears at year-end Preferred Dividend 0 0
Transcribed Image Text:[The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends Exercise 13-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 80,000 shares of noncumulative 6.5% preferred stock with a $5 par value and also 250,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Total: Par Value per Preferred Share $ $ 15,500 24,000 225,000 375,000 5.00 Total Cash Dividend Paid $ Dividend Rate 15,500 $ 24,000 225,000 375,000 639,500 $ 6.5% Paid to Preferred 15,500 15,500 Dividend per Number of Preferred Preferred Shares Share $ 0.325 Paid to Common O 80,000 $26,000 Dividends in Arrears at year-end Preferred Dividend 0 0
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