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Calculate the amount of the dividend paid

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Question - ABC Company began operations in January, 2017, by issuing 8,600 shares of 8%, cumulative, $65 par value preferred stock and 16,000 shares of $5 par value common stock. ABC Company paid $36,000 of dividends in 2017, they paid $45,000 of dividends in 2018, they paid $50,000 of dividends in 2019, they paid $28,000 of dividends in 2020, and they paid dividends of $85,000 in 2021.

Calculate the amount of the $85,000 dividend paid in 2021 that was paid to common stockholders.

Reference no: EM132523048

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