Nrtons outstanding stock consists of a 13000 shares of

Reference no: EM13576256

Norton's outstanding stock consists of (a) 13,000 shares of noncumulative 8% preferred stock with a $10 par value and (b) 32,500 shares of common stock with a $1 par value. During it's first four years of operation, the corporation declared and paid the following total cash dividends.

2009..........$8000
2010..........$24,000
2011..........$120,000
1012..........$197,000

(i) Determine the amount of dividends paid each year to each of the two classes of stockholders. also, compute the total dividends paid to each class for the 4 years combined.

(ii) Use the data above to 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.

Reference no: EM13576256

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