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What is the amount of dividends received

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Problem 1: Novak Corp. has 6000 shares of 5%. $100 par value, cumulative preferred stock and 12000 shares of $1 par value common stock outstanding at December 31. 2020. There were no dividends declared in 2018. The board of directors declares and pays a $55800 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020?

Option 1: $21600.

Option 2: $30000.

Option 3: $25800.

Option 4: $0.

Reference no: EM132806941

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