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Compute how much of the dividend payment was paid

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Reference no: EM132490743

The following information is provided for Bold Company for the year 2019:

  1. Preferred stock, 7%, $50 par value, 1,100 shares issued and outstanding
  2. Common stock, $100 par value, 2,100 shares issued and outstanding
  3. Dividends in arrears for three prior years (2016­­-2018)
  4. Total dividends declared and paid in 2019 were $51,000.

Question 1: How much of the 2019 dividend payment was paid to the preferred stockholders assuming the preferred stock is cumulative?

Multiple Choice

Option 1: $3,850.

Option 2: $35,600.

Option 3: $47,150.

Option 4: $15,400.

Reference no: EM132490743

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