How much of this dividend will be distributed

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Question - Corgi, Inc. has the following stock issued as of December 2015:

6% Preferred Stock, $100 par, 10,000 shares issued and outstanding

Common Stock, $5 par, 50,000 shares issued and outstanding

The preferred stock dividend is cumulative. Dividends were paid in 2013, but were not paid during 2014. On December 15, 2015, Corgi declares dividends of $210,000. How much of this dividend will be distributed to Common Stock?

Reference no: EM132532395

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