Parker Company has 24,000 shares of $1 par common stock issued and outstanding.The company also has 2,000 shares of $100 par 5% cumulative preferred stock outstanding.The company did not pay the preferred dividends in 2020 or 2021.What amount of dividends must the company pay the preferred shareholders in 2022 if they wish to pay the common stockholders a dividend?

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The Answer of Parker Company has 24,000 shares of $1 par common stock issued and outstanding.The company also has 2,000 shares of $100 par 5% cumulative preferred stock outstanding.The company did not pay the preferred dividends in 2020 or 2021.What amount of dividends must the company pay the preferred shareholders in 2022 if they wish to pay the common stockholders a dividend?

Parker Company Has 24,000 Shares of $1 Par Common Stock