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Find and calculate the amount of the dividend paid

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ABC Company began operations in January, 2017, by issuing 8,500 shares of 8%, cumulative, $65 par value preferred stock and 16,000 shares of $5 par value common stock. ABC Company paid $26,000 of dividends in 2017, they paid $45,000 of dividends in 2018, they paid $40,000 of  dividends in 2019, they paid $28,000 of dividends in 2020, and they paid dividends of $85,000 in 2021.

Question 1: Calculate the amount of the $85,000 dividend paid in 2021 that was paid to common stockholders.

Reference no: EM132589975

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