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Outstanding stock of the West Corporation included 40,000 shares of $5 par common stock and 10,000 shares of 5%, $10 par non-cumulative preferred stock. In
Outstanding stock of the West Corporation included 40,000 shares of $5 par common stock and 10,000 shares of 5%, $10 par non-cumulative preferred stock. In 2022, West declared and paid dividends of $4,000. In 2023, West declared and paid dividends of $20,000. How much of the 2023 dividend was distributed to the preferred stockholders?
A. $9,000.
B. None of these answer choices are correct.
C. $15,000.
D. $5,000
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