This year the dividend declared and paid was 15000 what

Reference no: EM13460545

Scratch, Inc. has 2,000 shares of 5%, $100 par, cumulative preferred stock and 80,000 shares of $4 par common stock outstanding. Last year the board of directors declared and paid an $8,000 dividend. This year the dividend declared and paid was $15,000. What amount of this year's total dividend was paid to preferred stockholders?

a. $15,000
b. $10,000
c. $0
d. $12,000

Reference no: EM13460545

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