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Business, 09.12.2021 22:40 jeffhuffle17

Burkert Company has 50,000 shares of $1 par value common stock issued and outstanding. The company also has 9,000 shares of $100 par value, 4% cumulative preferred stock outstanding. Burkert passed on preferred dividends in 2018 and 2019. For the common stockholders to receive a dividend at the end of 2020, the board of directors must declare dividends in excess of: a. $108,000.
b. $72,000
c. $36,000
d. $144,000

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