Question 17 Starr Corporation's December 31, 2007 Balance Sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 10,000 shares issued $200,000 Common stock, 510 par value, 2,000,000 shares authorized 1,300,000 shares issued, 1,280,000 shares outstanding 13,000,000 Paid-in capital in excess of par value-preferred stock 40.000 Paid in capital in excess of par value - common stock 18,000,000 Retained earnings 5,100,000 Treasury stock (20,000 shares) 420,000 Starr declared and paid a $50,000 cash dividend on December 15, 2007. If the company's dividends in arrears prior to that date were $16,000, Starr's common stockholders received A no dividend. B $22.000 C $18,000. $38,000