Fetcher inc has 5000 shares of 5 100 par value cumulative , Ask an Expert

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Fletcher, Inc. has 5,000 shares of 5%, $100 par value, cumulative preferred stock and 25,000 shares of $1 par value common stock outstanding at December 31, 2009 and 2010. There were no dividends declared in 2009. The board of directors declares and pays a $45,000 dividend in 2010. What is dividends in arrears at the end of 2010?

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