Business, 05.05.2020 08:13 faithcalhoun

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 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.

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York’s outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 p...

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