Homework Answers
| 2018 | 2019 | |
| Preferred Dividend | $5*12%*20,000 = $12,000 | $5*12%*20,000 = $12,000 |
| Preferred Dividend paid | $ 11,000 | $12,000 + $1,000 = $13,000 |
| Preferred dividend carried forward | $12,000 - $11,000 = $1,000 | $ - |
| Dividend paid to common stock | $ - | $49,000-$13,000 = $36,000 |
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