[The following information applies to the questions displayed below.] Yorks outstanding stock consists of 60,000...
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[The following information applies to the questions displayed below.] Yorks outstanding stock consists of 60,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 280,000 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:
2015 total cash dividends
$
13,200
2016 total cash dividends
22,000
2017 total cash dividends
240,000
2018 total cash dividends
390,000
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. (Round your "Dividend per Preferred Share" answers to 3 decimal places.)
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