9) Electric, Inc was incorponatod on fantary 1, 20i6. Electric issued 4000 sharas of common...
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9) Electric, Inc was incorponatod on fantary 1, 20i6. Electric issued 4000 sharas of common stock and 1200 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 12% dividend rate. Electric has not paid any dividends yet. In 2019, Electric had its first profitable year, and on November 1, 2019, Electric declared a total dividend of $63,000. What is the total amount that will be paid to preferred shareholders? A) 513,200 B) 563,000 (9) 514,400 1) 597,600
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