Outstanding stock of the Marigold Corporation included 20600 shares of $5 par common stock and 10300 shares of 7%, $10 par noncumulative preferred stock. In 2019, Marigold declared and paid dividends of $3600. In 2020, Marigold declared and paid dividends of $12100. How much of the 2020 dividend was distributed to preferred shareholders? $8500 O $3600 O $7210 O None of these answer choices are correct

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Outstanding stock of the Marigold Corporation included 20600 shares of $5 par common stock and
10300 shares of 7%, $10 par noncumulative preferred stock. In 2019, Marigold declared and paid
dividends of $3600. In 2020, Marigold declared and paid dividends of $12100. How much of the
2020 dividend was distributed to preferred shareholders?
$8500
O $3600
O $7210
O None of these answer choices are correct
Transcribed Image Text:Outstanding stock of the Marigold Corporation included 20600 shares of $5 par common stock and 10300 shares of 7%, $10 par noncumulative preferred stock. In 2019, Marigold declared and paid dividends of $3600. In 2020, Marigold declared and paid dividends of $12100. How much of the 2020 dividend was distributed to preferred shareholders? $8500 O $3600 O $7210 O None of these answer choices are correct
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