QUESTION 33 Torino Company has 10,000 shares of $5 par value, 4 cumulative and nonparticipating preferred stock and 100,000 shares of 510 par value common stock outstanding. The company paid total cash dividends of $1,000 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is A 51.000 3.52.000 C. 53.000 D. 54.000 E. SO