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York’s outstanding stock consists of 70,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 120,000 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: (Round your "Dividend per Preferred Share" answer to 3 decimal places.)

York’s outstanding stock consists of 70,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 120,000 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: (Round your "Dividend per Preferred Share" answer to 3 decimal places.)

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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York’s outstanding stock consists of 70,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 120,000 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: (Round your "Dividend per Preferred Share" answer to 3 decimal places.)

[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 $ 15,000 24, 200 265,000 415,000 York's outstanding stock consists of 70,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 120,000 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: (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Totals Par Value per Preferred Share $ Total Cash Dividend Paid $ 5.00 $ Dividend Rate 7.5% Paid to Preferred 15,000 $ 24,200 265,000 415,000 719,200 $ Dividend per Number of Preferred Preferred Shares Share $ 15,000 $ 24,200 26,250 65,450 $ 0.375 Paid to Common 0 0 388,750 388,750 Preferred Dividend 70,000 $ 26,250 Dividends in Arrears at year-end
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 $ 15,000 24, 200 265,000 415,000 York's outstanding stock consists of 70,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 120,000 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: (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Totals Par Value per Preferred Share $ Total Cash Dividend Paid $ 5.00 $ Dividend Rate 7.5% Paid to Preferred 15,000 $ 24,200 265,000 415,000 719,200 $ Dividend per Number of Preferred Preferred Shares Share $ 15,000 $ 24,200 26,250 65,450 $ 0.375 Paid to Common 0 0 388,750 388,750 Preferred Dividend 70,000 $ 26,250 Dividends in Arrears at year-end
Expert Solution
Step 1

Dividend per share:

Dividend per share is calculated for Preferred stock as well as Common Stock. Dividend per share is shown and the Statement of Profit & Loss. Dividend per share denotes the earnings distributed per share.

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