Tamarisk Corporation issued 115,000 shares of $18 par value, cumulative, 8% preferred stock on January 1, 2019, for $2,530,000. In December 2021, Tamarisk declared its first dividend of $730,000.

Cash 2530000

Preferred stock 2070000

Paid-in Capital in Excess of Par-Preferred Stock 460000

I have a problem finding answer C

(b) Your answer is correct. If the preferred stock is not cumulative, how much of the $730,000 would be paid to common stockholders? Common Stock Dividends $ 564400 e Textbook and Media List of Accounts Attempts: 1 of 15 used (c) Your answer is incorrect. If the preferred stock is cumulative, how much of the $730,000 would be paid to common stockholders? Common Stock Dividends $ e Textbook and Media List of Accounts