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How much of dividend distributed to preferred shareholders

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Problem 1: Outstanding stock of the Blossom Corporation included 51000 shares of $5 par common stock and 18500 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Blossom declared and paid dividends of $2550. In 2020, Blossom declared and paid dividends of $25500. How much of the 2020 dividend was distributed to preferred shareholders?

A. $11800.

B. $27750.

C. $9250.

D. None of these answer choices are correct.

Reference no: EM132809312

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