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On January 1- 2020- Warhol Company issued 2-000 shares of 10-- $200 pa.pdf

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On January 1, 2020, Warhol Company issued 2,000 shares of 10%, $200 par value, cumulative preferred stock for $500,000. No preferred dividends were declared in 2020 and 2021. On December 30, 2022, the Board declared $50,000 in dividends. What amount, if any, of preferred dividends are in arrears as of December 31, 2022? A. 120,000 B. $20,000 C. $0 D. $70,000.

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On January 1, 2020, Warhol Company issued 2,000 shares of 10%, $200 par value, cumulative preferred stock for $500,000. No preferred dividends were declared in 2020 and 2021. On December 30, 2022, the Board declared $50,000 in dividends. What amount, if any, of preferred dividends are in arrears as of December 31, 2022? A. 120,000 B. $20,000 C. $0 D. $70,000

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