Marion inc has 5000 shares of 5 100 par value noncumulative, Ask an Expert

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Marion, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2012. There were no dividends declared in 2011. The board of directors declares and pays a $55,000 dividend in 2012. What is the amount of dividends received by the common stockholders in 2012?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9978535

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