QUESTION 13 California Adventures issues 5,000 shares of 8% , $100 par value preferred stock at the beginning of 2017. All remaining shares are common stock. The company was not able to pay dividends in 2017, but plans to pay dividends of $100,000 in 2018. Assuming the preferred stock is noncumulative, how much of the $100,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2018? $40,000 to preferred stockholders and $60,000 to common stockholders. $80,000 to preferred stockholders and $20,000 to common stockholders. $20,000 to preferred stockholders and $80,000 to common stockholders. $100,000 to preferred stockholders and $0 to common stockholders. 10 points Save Answer QUESTION 14 California Clothing reports net income and sales for the year of $65,000 and $1,300,000, respectively. Return on equity is 10%. What is California Clothing's average Stockholders' Equity for the year? $650,000 $13,000,000 $682,500 5% 10 points Save