(Answered) Bayer corporation has outstanding 1000 shares of 100 par

Accounting

Bayer Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 20,000 shares of $10 par value common stock. Last year the company paid no dividends, but this year it distributed $40,000 in dividends. What portion of the $40,000 will common stockholders receive?

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