Shiner, Inc. has 20,000 shares of 5%, $12 Par Cumulative Preferred stock outstanding and 68,000 shares...

Shiner, Inc. has 20,000 shares of 5%, $12 Par Cumulative Preferred stock outstanding and 68,000 shares of $1 Par Common Stock Outstanding. During 2020 & 2021, Shiner paid no dividends. In 2022 Shiner paid $26,500 in total dividends. Which of the following is correct?

Multiple Choice

In 2022, Preferred stockholders received $12,000 and Common stockholders received $14,500.
In 2022, Preferred stockholders received $24,000 and Common stockholders received $2,500.
In 2022, Preferred stockholders received $36,000 and Common stockholders received $0.
In 2022, Preferred stockholders received $26,500 and Common stockholders received $0.

Expert Solution

ekkarill92 answered 1 year ago

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Shiner, Inc. has 20,000 shares of 5%, $12 Par Cumulative Preferred stock outstanding and 68,000 shares...

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