Hank Owns 100 Shares of Cumulative Preferred Stock in Wayside

question 17

Multiple Choice

Hank owns 100 shares of cumulative preferred stock in Wayside Transport,Inc.Kelsey owns 50 non-cumulative preferred shares,and Oleg owns 120 shares of common stock.Wayside does not pay dividends in 2015.In 2019

• A)Hank and Kelsey must receive their 2019 dividends before Oleg is paid any 2019 dividends.
• B)Oleg cannot receive any 2019 dividends until Hank is paid for the 2015 dividends.
• C)Kelsey cannot receive the dividends Wayside could not afford to pay in 2015.She will just lose them.
• D)All of these are correct.

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