Seashell Corporation has 25,000 shares outstanding of 8%, $10 par value, cumulative preferred stock. In 2017 and

Question:

Seashell Corporation has 25,000 shares outstanding of 8%, $10 par value, cumulative preferred stock. In 2017 and 2018, no dividends were declared on preferred stock. In 2019, Seashell had a profitable year and decided to pay dividends to stockholders of both preferred and common stock.
Required:
If Seashell has $200,000 available for dividends in 2019, how much could it pay to the common stockholders?

Fantastic news! We've Found the answer you've been seeking!