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Grambling, LLC has 400 shares of $100 par value, 15% cumulative preferred stock and 25,000...

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Accounting

Grambling, LLC has 400 shares of $100 par value, 15% cumulative preferred stock and 25,000 shares of $30 par value common stock outstanding. The following dividends were paid:

Year 1: $5,000

Year 2: $40,000

What was the cash dividend paid to common shareholders in the second year?

Select one:

a. $33,000

b. $40,000

c. $7,000

d. $0

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