Outstanding stock of the Sunland Corporation included
41000 shares of $5 par common stock and 13500 shares of 5%, $10 par
non-cumulative preferred stock. In 2016, Sunland declared and paid
dividends of $6150. In 2017, Sunland declared and paid dividends of
$20500. How much of the 2017 dividend was distributed to preferred
shareholders?

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Question: Outstanding stock of the Sunland Corporation included 41000 shares of $5 par common stock and 135…
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A. $12900.

B. $20250.

C. $6750.

D. None of these answer choices are
correct.

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