Outstanding stock of the Larson Corporation included 40000 shares of $5 par common stock and 10000 shares of 5% $10 par noncumulative preferred stock. In 2016 Larson declared and paid dividends of $4000. In 2017 Larson declared and paid dividends of $12000. How much of the 2017 dividend was distributed to preferred shareholders?

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The Answer of Outstanding stock of the Larson Corporation included 40000 shares of $5 par common stock and 10000 shares of 5% $10 par noncumulative preferred stock. In 2016 Larson declared and paid dividends of $4000. In 2017 Larson declared and paid dividends of $12000. How much of the 2017 dividend was distributed to preferred shareholders?

Outstanding Stock of the Larson Corporation Included 40000 Shares of $5