Question: use the following information for the exercises below the following...
Use the following information for the Exercises below.
[The following information applies to the questions
York’s outstanding stock consists of 85,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 150,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends:
|2015 total cash dividends||$||13,900|
|2016 total cash dividends||23,500|
|2017 total cash dividends||280,000|
|2018 total cash dividends||430,000|
Exercise 13-9 Dividends on common and cumulative preferred stock LO C2
Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.)