Question: Please help with my mistake? I dont understand why its wrong. Required information [The following information applies to the questions displayed below.) York's outstanding stock
Please help with my mistake? I dont understand why its wrong.

Required information [The following information applies to the questions displayed below.) York's outstanding stock consists of 75,000 shares of noncumulative 60% preferred stock with a $5 par value and also 240,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and pald the following total cash dividends. 2016 total cash dividends 2017 total cash dividends $12,100 2018 total cash dividends 20,50 2019 total cash dividends $ 220,000 376,808 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 comblned. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Answer is not complete. Par Value per Preferred Dividend Rate Number of Preferred Shares Preferred Dividend per Preferred Annual Preferred Dividend 75000 22,500 5.00 6.0% Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end S 12,100 12,100 S 0S 10,400 02,000 2016 2017 2018 2019 Totals 20,500 220,000 370,000 20,500 20,500 22,500 199.5000 347,500 S 622,600 75,600 547,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
