Business, 05.06.2020 07:57 beanokelley

Halverstein Company's outstanding stock consists of 9,450 shares of cumulative 5% preferred stock with a $10 par value and 4,050 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Year Dividend Declared 2015 $0 2016 $6,000 2017 $32,000 The amount of dividends paid to preferred and common shareholders in 2016 is: a. $3,500 preferred; $2,500 common.
b. $3,000 preferred; $3,000 common.
c. $0 preferred; $6,000 common.
d. $4,200 preferred; $1,800 common.
e. $6,000 preferred; $0 common.

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