Distribution to the preferred stockholders

Reference no: EM13259329

The outstanding stock is composed of 10,000 shares of $100par, cumulative preferred $8 stock, and 50,000 shares of no-parcommon stock. Preferred dividends have been paid every year exceptfor the preceding year and the current year. If $380,000 is to bedistributed as a dividend for the current year, what total amount will be distributed to the preferred stockholders?

a. $380,000

b. $0

c. $80,000

d. $160,000

Reference no: EM13259329

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