The board of directors of Sailbird Inc. declared total dividends of $50 000 for 2009. The following shares were outstanding at that time:

For the previous two years, no dividends had been paid for either 2007 or 2008. How much in dividends are paid to preference shareholders and ordinary shareholders?

Transcribed Image Text:

Preference shares, cumulative 6%, 5000 shares, $8 par Ordinary shares, 50 000 shares, $10 par $40 000 $500 000