York’s outstanding stock consists of 90,000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 160,000 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. Year 1 total cash dividends $ 19,800 Year 2 total cash dividends 29,500 Year 3 total cash dividends 285,000 Year 4 total cash dividends 435,000 Exercise 13-11 Dividends on common and cumulative preferred stock LO C2 Use the data in Exercise 13-10 to determine the amount of dividends paid each year to each of the two classes of stock assuming that the preferred stock is cumulative. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)
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York’s outstanding stock consists of 90,000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 160,000 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.
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Year 1 total cash dividends |
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19,800 |
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Year 2 total cash dividends |
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29,500 |
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Year 3 total cash dividends |
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285,000 |
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Year 4 total cash dividends |
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435,000 |
Exercise 13-11 Dividends on common and cumulative preferred stock LO C2
Use the data in Exercise 13-10 to determine the amount of dividends paid each year to each of the two classes of stock assuming that the preferred stock is cumulative. (Round your "Dividend per
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