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TieDye Sweats, LLC has 400 shares of $100 par value, 15% cumulative preferred stock and...

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Accounting

TieDye Sweats, LLC has 400 shares of $100 par value, 15% cumulative preferred stock and 25,000 shares of $30 par value common stock outstanding. The following dividends were paid:

Year 1: $3,000

Year 2: $25,000

What was the cash dividend paid to common shareholders in the second year?

Select one:

a. $25,000

b. $0

c. $9,000

d. $16,000

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