Outstanding stock of the Sheridan Corporation included 20800 shares of $5 par common stock and...
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Accounting
Outstanding stock of the Sheridan Corporation included 20800 shares of $5 par common stock and 10400 shares of 5%, $10 par noncumulative preferred stock. In 2019, Sheridan declared and paid dividends of $3500. In 2020, Sheridan declared and paid dividends of $12100. How much of the 2020 dividend was distributed to preferred shareholders? $8600 O $3500 O $5200 O None of these answer choices are correct
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