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Question 4(1 point) Burton Inc. has two classes of stock, 10%$100 par cumulative...

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Accounting

Question 4(1 point)
Burton Inc. has two classes of stock, 10%$100 par cumulative Preferred Shares and $1.40 par Common Shares. Currently there are 8,000 shares of the preferred and 76,000 shares of the common shares outstanding. Last year there was a disaster that wiped out a major division and so there was no dividend. In the earlier years (before the disaster), a dividend was declared and paid that exceeded the maximum for the preferred shareholders. A dividend for the current year was just declared in the amount of $280,000.
What is the amount of dividends that will go to the common shareholders?
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