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York's outstanding stock consists of 70,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 180,000 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. 2016 total cash dividends 2017 total cash dividends 9,100 19,000 2018 total cash dividends 2019 total cash dividends $ 295,000 445,000 Exercise 11-9 Dividends on common and cumulative preferred stock LO C2 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.) Answer is complete but not entirely correct. Par Value Dividend Number of Preferred Shares Dividend per Preferred Share per Preferred Share Preferred Dividend Rate Annual Preferred Dividend: 5.00 6.0% $ 0.300 70,000 21.000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2016 $ 9.100 9.100 $ $ 11.900 2017 19,000 19,000 0 13,900 2018 295,000 295,000 34.900 26,100 2019 445,000 445,000 21 000 424,000 Totals 768 100 $ 768,100 $ 55.900

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