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Find what is amount of dividends received

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Problem 1: Blossom Company has 5000 shares of 5%, $100 par value, cumulative preferred stock and 10000 shares of $1 par value common stock outstanding at December 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $45500 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020?

Option 1: $16000.

Option 2: $25000.

Option 3: $0.

Option 4: $20500.

Reference no: EM132709741

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