Determine the amount of dividends paid each year

Reference no: EM13157437

Nortan's outstanding stock consists of (a) 13,000 shares of noncumulative 6.00% preferred stock with a $10 par value and (b) 32,500 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.

2009 $6,000
2010 21,000
2011 100,000
2012 199,000

Requirement:

Determine the amount of dividends paid each year to each of the two classes of stockholders.

Reference no: EM13157437

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