The Following Information Is Provided for Slickers, Inc

question 47

Multiple Choice

The following information is provided for Slickers, Inc. for year 2016: • Preferred stock, 7%, $50 par value, 1,000 shares issued and outstanding
• Common stock, $100 par value, 2,000 shares issued and outstanding
• Dividends in arrears for 2014 and 2015
• Total dividends declared and paid during 2016 totaled $25,000
How much of the dividend was paid to the preferred stockholders during 2016 assuming the preferred stock is cumulative?

• A)$3,500.
• B)$7,000.
• C)$10,500.
• D)$14,500.

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