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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

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 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
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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