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At December 31, 2019 and 2020, Plank Corp. had outstanding 2,000 shares of 100 par value 10% cumulative preference shares and 20,000 shares of 10
At December 31, 2019 and 2020, Plank Corp. had outstanding 2,000 shares of 100 par value 10% cumulative preference shares and 20,000 shares of 10 par value ordinary shares. At December 31, 2019, dividends in arrears on the preference shares were 10,000. Cash dividends declared in 2020 totaled 35,000. What amounts were payable on each class of stock ( ordinary and preference)
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