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Business, 17.04.2020 01:34 sssavannahh

On December 31, 2020, GUMBO Inc. had the following balances in its shareholders' equity accounts on its balance sheet. Preferred stock, 5%, $100 par, cumulative, non-participating $1,000,000 Paid-in capital–excess of par, preferred 100,000 Common stock, $1 par 250,000 Paid-in capital–excess of par, common 500,000 Retained earnings 2,000,000 Treasury stock at cost, 5,000 shares of common 25,000 How much is the total annual dividend owed to the preferred shareholders?

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