Reference no: EM132254674

Question - York's outstanding stock consists of 60,000 shares of 7.0% preferred stock with a $5 par value and also 210,000 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 - $10,900

2016 total cash dividends - 19,000

2017 total cash dividends - 205,000

2018 total cash dividends - 355,000

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.