California Adventures issues 5,000 shares of 8%,$100 par value preferred stock at the beginning of 2014.All remaining shares are common stock.The company was not able to pay dividends in 2014,but plans to pay dividends of $100,000 in 2015.Assuming the preferred stock is noncumulative,how much of the $100,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2015?

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The Answer of California Adventures issues 5,000 shares of 8%,$100 par value preferred stock at the beginning of 2014.All remaining shares are common stock.The company was not able to pay dividends in 2014,but plans to pay dividends of $100,000 in 2015.Assuming the preferred stock is noncumulative,how much of the $100,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2015?

California Adventures Issues 5,000 Shares of 8%,$100 Par Value Preferred