The outstanding stock of The Bullseye Company is composed of 10,000 shares of $60 par, 12%, cumulative preferred stock and 70,000 shares of $10 par common stock. Dividends have not been paid for the current year or the previous two years. If $310,000 is to be distributed as dividends for the current year, what total amount will be distributed to the preferred stockholders? Multiple Choice O O $72,000 $94,000 $216,000 $310,000

The outstanding stock of The Busiseyo Company is composed of 10,000 shares of $60 par, 12%, cumulative preferred stock and 70,000 shares of $10 par. common stock. Dividends have not been paid for the current year or the previous two years. If $310,000 is to be distributed as dividends for the current yeas, what total amount will be distributed to the preferred stockholders? Multiple Choice $72.000 594,000 $216.000 $310.000