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York s outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 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 . . . . . . . . . . . . . . $ 20,000 2016 total cash dividends . . . . . . . . . . . . . . 28,000 2017 total cash dividends . . . . . . . . . . . . . . 200,000 2018 total cash dividends . . . . . . . . . . . . . . 350,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined.
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