Lyon company shows the following condensed income statement information for the year ended December 31, 2013:

Lyon declared dividends of $ 6,000 on preferred stock and $ 17,280 on common stock. At the beginning of 2013, 10,000 shares of co.mon stock were outstanding. On may 4, 2013, the company issued a 20 % stock dividend on its common stock. The preferred stock is not convertible. Required :

please note the red x indicate incorrect answer.