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Outstanding stock of the Metlock, Inc. included 38000 shares of $5 par common stock and 14000 shares of 5%, $10 par non-cumulative preferred stock. In
Outstanding stock of the Metlock, Inc. included 38000 shares of $5 par common stock and 14000 shares of 5%, $10 par non-cumulative preferred stock. In 2016, Metlock declared and paid dividends of $11400. In 2017, Metlock declared and paid dividends of $34200. How much of the 2017 dividend was distributed to preferred shareholders?
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