(Answered) Question - outstanding stock of the colt corporation

Accounting

Question - Outstanding stock of the Colt Corporation included 20,000 shares of $5 par common stock and 5,000 shares of 5%,$10 par noncumulative preferred stock. In 2009,Clot declared and paid dividends of $2,000. In 2010, Clot declared and paid dividends of $6,000. How much of the 2010 dividend was distributed to preferred shareholders?

A) $3,000

B) $3,500

C) $2,500

D) None of the above

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