Problem
York's outstanding stock consists of 58,000 shares of cumulative 7.50% preferred stock with a $10 par value and also 145,000 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 $ 35,000
2016 37,125
2017 86,000
2018 128,500
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 2 decimal places.)