Determine the amount of dividends paid each year

Reference no: EM132739214

Question - York's outstanding stock consists of 80,000 shares of noncumulative 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:

Year 1 total cash dividends $20,000

Year 2 total cash dividends 28,000

Year 3 total cash dividends 200,000

Year 4 total cash dividends 350,000

Required - Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative.

Reference no: EM132739214

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