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Clippy Company was incorporated on January 1, 2020, it has 8,000 shares of common stock...

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Accounting

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Clippy Company was incorporated on January 1, 2020, it has 8,000 shares of common stock and 2,000 shares of non-cumulative preferred stock with 11% dividend rate and $70 par value. Clippy Company has not paid any dividend yet. On December 1, 2021, the company declared $50,000 cash dividend payable on February 1, 2022. What is the total amount of cash dividend paid to preferred shareholders?* $34,600 $30,800 $19,200 $15,400 O None of the above What is the total amount of cash dividend that will be paid to common shareholders? $34,600 $30,800 $19,200 $15,400 None of the above What is the amount of cash dividend that will be paid for each share of common stock? $114.29 $4.325 $7.7 $1.925 None of the above

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