Question
For the past 3 years, Sporty corporation has the following shares outstanding: 100,000 common shares ($ 5 par value) 20,000 preferred shares, $ 50 par,
For the past 3 years, Sporty corporation has the following shares outstanding:
100,000 common shares ($ 5 par value)
20,000 preferred shares, $ 50 par, 6%, Non cumulative
5,000 preferred shares, $ 100 par, 8% cumulative
The company did Not pay dividends for 2018, 2019, and 2020.
On 31 December 2020, the company declares $ 250, 000 as cash dividends on all its shares outstanding.
How much is the total cash dividends to be paid to common shareholders?
NOTE: (When writing your answer do not use commas or sign of the dollar. For example, if your answer is $10,000, write it as 10000)
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