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Question 6 CBT Ltd has the following information related to its stockholder's equity at the end of 2020: Cumulative preferred stock 8%, $30 par value,

Question 6 CBT Ltd has the following information related to its stockholder's equity at the end of 2020: Cumulative preferred stock 8%, $30 par value, 5,000 shares outstanding. Dividends were in arrears for two years. In 2020, CBT announced total dividends of $40,000. What is the amount of dividends received by preferred stockholders in 2020? A. $36,000 B. $40,000 C. $20,000 D. None of the options above

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