Answer
question 2 (7 points)
towson corp., had 5,000 shares of $100 par, 5% cumulative preferred stock as of
january 1, 2018. no additional shares of preferred stock were issued during fiscal
years 2018 & 2019. dividends were paid to common shareholders in 2017 but no
shareholders were paid dividends in 2018. a total of $90,000 of dividends was paid
in 2019. use this information to determine the total dollar amount of dividends
that was paid to common shareholders during fiscal year 2019.