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Business, 12.02.2022 03:30 donnafranks2003
Pear, Inc. was incorporated on January 1, Year 1. Pear issued 4000 shares of common stock and 500 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 10% dividend rate. Pear has not paid any dividends yet. In Year 4, Pear had its first profitable year, and on November 1, Year 4, Pear declared a total dividend of $50,000. What is the total amount that will be paid to preferred shareholders
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