1 point Outstanding stock of the Bush Corporation included 40,000 shares of $5 par common stock and 20,000 shares of 5%, $10 par cumulative preferred stock. In 20X1, Bush did not declare or pay any dividends. In 20X2, Bush declared and paid dividends of $24,000. How much of the 20x2 dividend was distributed to preferred shareholders? * $10,000. $18,000. $20,000 $14,000. This is a required question 1 point Which of the following is not an accurate statement regarding the distinction between debt and equity?* The providers of equity are owners of the business; the providers of borrowed funds are creditors. Only equity is considered a source of financing for operations of the business, since debt must be repaid at a specified maturity date. If a business ceases operations and liquidates, claims of all creditors have legal priority over claims of the stockholders. Most debt requires the borrower to pay interest annually, equity financing does not obligate the company to make a specified annual payment. Dividends in arrears are dividends on * 1 point c. cumulative preferred stock that have not been declared for a given period of time. d. common dividends that have been declared but have not yet been paid. a. cumulative preferred stock that have been declared but have not been paid. b. non-cumulative preferred stock that have not been declared for a given period of time. 1 point Two classifications appearing in the paid-in capital section of the balance sheet are * O paid-in capital and retained earnings. capital stock and treasury stock. capital stock and additional paid-in capital. preferred stock and common stock