This is the second question

At the end of Its first year of operations, Draco Corporation had 2,300 shares of $20 par value, 7.5% cumulative preferred stock and 23,000 shares of $10 par value common stock outstanding. No additional stock was Issued in Year 2 . Draco pald total cash dividends of $3,000 in its first year of operations. What is the amount of cash dividends that must be paid to preferred stockholders in Year 2 before any dividends can be pald to common stockholders? Multiple Cholce 53,450 $3,000 $6,900. $450. $3,900. On January 10th, Green Foods Issued 8.0%,10-year bonds with a par value of $2,700,000. The bonds pay Interest semlannually. On the date of Issue, the market rate of Interest was 9.0% and the bond selling price was $2,516,532. What journal entry should Green Foods make to record the issuance of the bonds? Multiple Choice Debit Cash $2,700,000; credit Bonds Payable $2,700,000. Debit Cash $2,516,532; debit Interest Expense $183,468; credit Bonds Payable $2,700,000. Debit Cash $2,516,532; debit Discount on Bonds Payable $183,468; credit Bonds Payable $2,700,000. Debit Cash $2,700,000; credit Bonds Payable $2,516,532; credit Discount on Bonds Payable $183,468. Debit Cash $2,516,532; credit Bonds Payable $2,516,532. At the end of its first year of operations, Kelly Company had $260,000 of 9% noncumulative, preferred stock outstanding and $660,000 of common stock outstanding. No additional stock vas issued In Year 2 . In Kelly's first year of operation, no dividends were pald. During the second year, Kelly pald cash dividends of $46,000. How should Kelly distribute the dividend paid in Year 2? Multiple Choice \$11,500 preferred; $34,500 common. $24,000 preferred; $22,000 common. $23,000 preferred; $23,000 common. $0 preferred; $46,000 common. $23,400 preferred; $22,600 common