Dividends on Common and prefferedstock
:confused::confused::confused:Exercise 13-9: Dividends on common and cumulative preferred stock L.O. P4
York's outstanding stock consists of (a) 46,000 shares of cumulative 6.5% preferred stock with a $5 par value and (b) 115,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following cash dividends:
2006
$
12,000
2007
11,000
2008
42,000
2009
70,000
Requirement 1:
Determine the amount of dividends paid each year to each of the two classes of stockholders
