Cumulative preferred stock

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Reference no: EM13944018

Arp. Corp's outstanding capital stock at December 15, 2013 consisted of the following: 30,000 shares of 5% cumulative preferred stock, par value $10 per share, fully participating as to dividends. No dividends were in arrears. 200,000 shares of common stock, par value $1 per share. On December 15, 2013, Arp declared dividends of $100,000. What amount of dividends are payable to Apr's common shareholders?

$10,000

$34,000

$40,000

Reference no: EM13944018

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