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  3. xyz company began operations in january, 2017, by

XYZ Company began operations in January, 2017, by issuing 7,500 shares of 9%, cumulative, $65...

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Accounting

XYZ Company began operations in January, 2017, by issuing 7,500 shares of 9%, cumulative, $65 par value preferred stock and 16,000 shares of $5 par value common stock. XYZ Company paid $36,000 of dividends in 2017, they paid $45,000 of dividends in 2018, they paid $50,000 of dividends in 2019, they paid $28,000 of dividends in 2020, and they paid dividends of $85,000 in 2021. Calculate the amount of the $85,000 dividend paid in 2021 that was paid to common stockholders. Do not use decimals in your answer.

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