Organic produce, inc. has 43 comma 000 shares of common stock outstanding and 5 comma 000 shares of preferred stock outstanding. the common stock is $ 0.02 par value; the preferred stock is 7% noncumulative with a $ 100.00 par value. on october 15, 2019, the company declares a total dividend payment of $ 47 comma 000. how much dividend will be paid to the preferred stockholders?

$49,000

Explanation:

Data provided in the question:

common stock outstanding = 43,000

Preferred stock outstanding = 5,000

Value common stock = $0.02 par value

Value preferred stock = 7% noncumulative with a $ 100.00 par value

Total dividend payment declared = $47,000

Now,

Dividend paid to the preferred stockholders will be

= Preferred stock outstanding × Value preferred stock

= 7,000 × $100 × 7%

= 7,000 × $100 × 0.07

= $49,000

c, theres a double tax on the business earnings

i would say a penny hope it you