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Jordan Company has 2,500 shares of 6%, $50 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December
Jordan Company has 2,500 shares of 6%, $50 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2019, and December 31, 2020. The board of directors declared and paid a $5,000 dividend in 2019. In 2020, $40,000 of dividends are declared and paid. What are the dividends received by the ordinary shareholders in 2020
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