Sarasota Rock Inc. has 7670 shares of 5%, $100 par value, cumulative preferred stock and 46020 shares of $1 par v outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sarasota Rock Inc. has 7670 shares of 5%, $100 par value, cumulative preferred stock and 46020 shares of $1 par value common stock
outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $69030
dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021?
O $23010
O $38350
O $0
O $69030
Transcribed Image Text:Sarasota Rock Inc. has 7670 shares of 5%, $100 par value, cumulative preferred stock and 46020 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $69030 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021? O $23010 O $38350 O $0 O $69030
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