Dividends Andrews Company has $95,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding. The preferred stock is selling for $125 per share, and the common stock is selling for $25 per share. Required c. Preferred stock is fully participating and cumulative. Preferred dividends are 1 year in arrears at the beginning of the year. Andrews Company Schedule of dividends to be paid Preferred Common Dividends in arrears $ 20,000 $ 0 Current preferred dividends 20,000 0 Common proportional share 0 30,000 Remainder shared 28,235 23,437 x Total 40,625 X $ 39,375