Outstanding stock of the Colt Corporation included 20,000 shares of $5 par common stockand 5,000 shares of 5%, $10 par noncumulative preferred stock. In 2009, Colt declaredand paid dividends of $2,000. In 2010, Colt declared and paid dividends of $6,000. Howmuch of the 2010 dividend was distributed to preferred shareholders? a. $3,000b. $3,500c. $2,500d. None of the above
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Home » Business » Outstanding stock of the Colt Corporation included 20,000 shares of $5 par common stockand 5,000 shares of 5%, $10 par noncumulative preferred stock. In 2009, Colt declaredand paid dividends of $2,000.