Cornerstone Exercise 10-36 (Algorithmic) Preferred Stock Dividends Beachman, Inc. has 9,400 shares outstanding of 10%, $20 par value, cumulative preferred stock. In 2017 and 2018, no dividends were declared on preferred stock. In 2019, Beachman had a profitable year and decided to pay dividends to stockholders of both preferred and common stock. Required: If the company has $200,000 available for dividends in 2019, how much could it pay to the common stockholders? Feedback Check My Work The cumulative feature of preferred stock requires corporations to pay all current and unpaid prior period dividends to preferred stockholders before paying any dividends to common shareholders