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Business, 19.12.2019 02:31 harpermags7830

electric, inc. was incorporated on january 1, 2016. electric issued 7 comma 000 shares of common stock and 1 comma 200 shares of preferred stock on that date. the preferred stock is cumulative, $ 100.00 par, with an 10% dividend rate. electric has not paid any dividends yet. in 2019, electric had its first profitable year, and on november 1, 2019, electric declared a total dividend of $ 50 comma 000. what is the total amount that will be paid to preferred shareholders?

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