Concord Corporation issues 23000 shares of $50 par value preferred stock for cash at $55 per share. In the stockholders' equity section, the effects of the transaction above will be reported under both the capital stock and additional paid-in capital sections. entirely within the capital stock section. entirely under the retained earnings section. entirely within the additional paid-in capital section. Outstanding stock of the Pharoah Company included 54000 shares of $5 par common stock and 13000 shares of 5%, $10 par non- cumulative preferred stock. In 2019. Pharoah declared and paid dividends of $10800. In 2020, Pharoah declared and paid dividends of $32400. How much of the 2020 dividend was distributed to preferred shareholders? $25900 $17300 $6500. None of these answer choices are correct