York's outstanding stock consists of 80,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 200,000 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. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Totals Par Value per Preferred Share $ 5.00 Total Cash Dividend Paid $ Answer is not complete. Dividend per Preferred Share 20,000 28,000 200,000 350,000 598,000 $ Dividend Rate 7.5% Paid to Preferred $ 20,000 28,000 30,000 78,000 $ $ 0.375 Paid to Common 0 0 320,000 $ 320,000 Number of Preferred Shares Preferred Dividend 80,000 $ 30,000 Dividends in Arrears at year-end
York's outstanding stock consists of 80,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 200,000 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. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Totals Par Value per Preferred Share $ 5.00 Total Cash Dividend Paid $ Answer is not complete. Dividend per Preferred Share 20,000 28,000 200,000 350,000 598,000 $ Dividend Rate 7.5% Paid to Preferred $ 20,000 28,000 30,000 78,000 $ $ 0.375 Paid to Common 0 0 320,000 $ 320,000 Number of Preferred Shares Preferred Dividend 80,000 $ 30,000 Dividends in Arrears at year-end
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:York's outstanding stock consists of 80,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 200,000
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.
Annual Preferred
Dividend:
Year 1
Year 2
Year 3
Year 4
Totals
Par Value
per
Preferred
Share
$
5.00
Total Cash
Dividend
Paid
$
20,000 $
28,000
200,000
350,000
$ 598,000
Answer is not complete.
Dividend
per
Preferred
Share
$
Dividend
Rate
Paid to
Preferred
7.5%
20,000
28,000
$
$
30,000
78,000 $
0.375
Paid to
Common
0
0
320,000
320,000
Number of
Preferred
Shares
80,000
Dividends
in Arrears
at year-end
Preferred
Dividend
$ 30,000
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