Hallery Corporation has 15,000 shares of 5%, $1 par, cumulative preferred stock and 53,000 shares of common

Question:

Hallery Corporation has 15,000 shares of 5%, $1 par, cumulative preferred stock and 53,000 shares of common stock outstanding. Hallery Corporation declared no dividends in 2014. In 2015, Hallery Corporation declares a total dividend of $31,000. How much of the dividend goes to the common stockholders?

a. $750

b. $1,500

c. $29,500

d. None; it all goes to preferred.

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