Sebold Manufacturing declared a 10% stock dividend when it had 700,000 shares of S3 par value common stock outstanding. The market price per common share was $12 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to a. Stock Dividends for $210,000. b. Paid-in Capital in Excess of Par for $630,000 c. Common Stock for $210,000. d. Common Stock Dividends Distributable for $840,000. 12. Sebastiani Inc. declared a $80,000 cash dividend. It currently has 3,000 shares of 7%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Sebastiani distribute to the common stockholders? a. $38,000 b. $42,000. c. $59,000. d. None of these answer choices are correct. 13, Laser Inc., has 1,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2020, and December 31, 2019. The board of directors declared and paid a $2,500 dividend in 2019. In 2020, $12,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2020? a. $8,500 b. $6,000 c. $3,500 d. $3,000