Concord corporation has outstanding 10,200 shares of $100 par value, 6% preferred stock and 59,300 shares of $10 par value common stock. the preferred stock was issued in january 2017, and no dividends were declared in 2017 or 2018. in 2019, concord declares a cash dividend of $326,000.

See below.

Explanation:

The question here is to find the preferred dividend payable at the time of dividend deceleration. We assume that preferred stock is not cumulative and as such the dividends payable are as follows,

Preferred dividend payable per year = (10200*100)*0.06 = $61,200

So $61,200 is payable to preferred stock holders and 326,000-61,200 = $264,800 is payable to common stock holders.

If the preferred shares were cumulative the 3 year sum of dividend would have been payable.

We can solve for the cumulative dividends as follows.

Preferred dividend payable for 2017, 2018 and 2019 are a joint sum of 61,200 * 3 = $183,600.

This is the sum payable for 3 years.

So in 2019, 183,600 is payable to preferred stock holders and

Ordinary stock holders = 326,000 - 183,600

Ordinary stock holders = $142,400.

Thisbis the remainder paid to ordinary stockholders.

Hope that helps.