Question
Outstanding stock of the Wildhorse Corporation included 42800 shares of $5 par common stock and 10700 shares of 5%, $10 par non-cumulative preferred stock.
Outstanding stock of the Wildhorse Corporation included 42800 shares of $5 par common stock and 10700 shares of 5%, $10 par non-cumulative preferred stock. In 2024, the company's board of directors declared and paid dividends of $4280. In 2025, the board of directors declared and paid dividends of $21400. How much of the 2025 dividend was distributed to preferred shareholders?
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Intermediate Accounting
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