Current Attempt in Progress

Skysong Company has $23,000$ shares of $$1$ par common stock issued and outstanding. The company also has $2,300$ shares of $$100$ par

$3\%$ cumulative preferred stock outstanding. The company did not pay the preferred dividends in $2018$ or $2019.$ What amount of

dividends must the company pay the preferred shareholders in $2020$ if they wish to pay the common stockholders a dividend?

Amount of dividend

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