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How much dividend was distributed to preferred shareholders

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Question - Outstanding stock of the Pina Colada Corporation included 47000 shares of $5 par common stock and 16500 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Pina Colada declared and paid dividends of $7050. In 2020, Pina Colada declared and paid dividends of $23500. How much of the 2020 dividend was distributed to preferred shareholders?

a. 15300.

b. $24750.

c. $8250.

d. None of these answer choices are correct.

Reference no: EM133076943

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