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Tarquesan Inc. declared a $50,000 dividend in 2012. They did not pay out any dividends...

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Accounting

Tarquesan Inc. declared a $50,000 dividend in 2012. They did not pay out any dividends in 2011. Given the following stock information, determine the amount of total dividends owed to the preferred stockholders.

Preferred Stock issues 10,000
Preferred Stock cumulative at $/share .90
Common Stock issued 100,000

A. $0

B. $32,000

C. $18,000

D. $9,000

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