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How much dividend was distributed to preferred shareholders

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Reference no: EM132848562

Question - Outstanding stock of the Oriole Corporation included 48000 shares of $5 par common stock and 17000 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Oriole declared and paid dividends of $2400. In 2020, Oriole declared and paid dividends of $24000. How much of the 2020 dividend was distributed to preferred shareholders?

a. $10900.

b. $25500.

c. $8500.

d. None of these answer choices are correct.

Reference no: EM132848562

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