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Determine the amount of dividends paid each year

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Question - York's outstanding stock consists of 70,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 120,000 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 $ 15,000

Year 2 total cash dividends 24,200

Year 3 total cash dividends 265,000

Year 4 total cash dividends 415,000

Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.

Reference no: EM132524533

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