Question 2 Waterway, Inc. has 10200 shares of 7%, $100 par value, cumulative preferred stock and 102000 shares of $1 par value common stock outstanding at December 31, 2020. If the board of directors declares a $71400 dividend, the preferred shareholders will receive the entire $71400. $71400 will be held as restricted retained earnings and paid out at some future date. preferred shareholders will receive 1/10th of what the common shareholders will receive. preferred shareholders will receive $35700 and the common shareholders will receive $35700 By accessing this question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor