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Cool Beans Company has 30,000 shares of 2% cumulative preferred stock of $50 par and 50,000 shares of $50 par common stock. Below are the amounts distributed as dividends.

$20,000
$50,000
$90,000

Please determine the amount of dividends paid to common and preferred stock for each scenario presented above.

Accounting Basics, Accounting

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  • Reference No.:- M938449

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