(Answered) Question - motor works inc has declared a 20000 cash

Accounting

Question - Motor Works, Inc. has declared a 20,000 cash dividend to shareholders. The company has 5,000 shares of 15-par, 10% preferred stock and 10,000 shares of 20-par common stock. The preferred stock is non-cumulative. How much will the preferred and common stockholders receive on the date of payment?

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