(Solution) - Laura Marty Ltd did not pay dividends on its -(2025 Original AI-Free Solution)

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Laura & Marty. Ltd.. did not pay dividends on its 9.5%, $100 par value cumulative preferred stock during 2015 or 2016. Since 2009, 175.000 shares of this stock have been outstanding. Laura & Marty, Ltd., has been profitable in 2017 and is considering a cash dividend on its common stock that would be payable in December 2017.
Required:
Calculate the amount of dividends that would have to be paid on the preferred stock before a cash dividend could be paid to the common stockholders.