Question - Nortan's outstanding stock consists of (a) 40,000 shares of noncumulative 9.50% preferred stock with a $10 par value and (b) 100,000 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.
|
2009
|
$30,000
|
|
2010
|
22,000
|
|
2011
|
90,000
|
|
2012
|
197,000
|
Determine the amount of dividends paid each year to each of the two classes of stockholders.