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How much will be distributed to the preferred on the date

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Question 1: Motor works, Inc. has declared a $20,000 Cash dividend to share holders. The company has 5,000 shares of $15-par, 10% preferred stock and and 10,000 shares of $20-par common stock. The preferred stock is cumulative. How much will be distributed to the preferred and common stockholders on the date of payment if the preferred stock is $80,000 in arrears?

A. $7,500 preferred, $12,500 common

B. $8,000 preferred, $2000 common

C.$20,000 preferred, $0 common

D. $15,500 preferred, $4,500 common

Reference no: EM132492226

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