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What amount of dividends are preferred stockholders entitled

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Question - Balboa Company has outstanding 40,000 shares of 4 percent, $200 par value preferred stock (noncumulative) and 40,000 shares of $200 par value common stock. Retained earnings are $280,000. No dividends were paid last year. What amount of dividends are the preferred stockholders entitled to at the end of the current year before payment of any dividends to common stockholders?

A. No preference as to dividends

B. $440,000

C. $560,000

D. $320,000

Reference no: EM133033805

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