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New York Corporation began operations in 20X5. New York Corporation declared dividends of $8,200 for the year 20X5 to be paid before year's end. New
New York Corporation began operations in 20X5. New York Corporation declared dividends of $8,200 for the year 20X5 to be paid before year's end. New York Corporation has outstanding 5,000 shares of $1 par value common stock and 2,000 shares of 3% $100 par value cumulative preferred stock. In 20X6, New York Corporation declared and paid additional dividends of $13,000. No additional stock was issued.
How much money did New York Corporation distribute to the common stock shareholders in 20X6?
Group of answer choices
$7,000
$4,100
$2,000
$3,500
$9,200
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