The Outstanding Stock of Adam Baum Company Is Composed of 25,000

question 100

Multiple Choice

The outstanding stock of Adam Baum Company is composed of 25,000 shares of $100 par, 2%, cumulative preferred stock and 200,000 shares of $5 par common stock. Dividends have not been paid for the current year or the previous year. If $180,000 is to be distributed as dividends for the current year, what total amount will be distributed to the preferred stockholders?

• A)$200,000.
• B)$100,000
• C)$50,000.
• D)$80,000.

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