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Aggarwal Company has had 10,000 shares of 10%, $100 par-value preferred stock and $80,000 shares of $5 stated-value common stock outstanding for the last three years. During that period, dividends paid totaled $0, $200,00, and $220,000 for each year respectively.

Required: Compute the amount of dividends that must have been paid to preferred stockholders and common stockholders in each of the three years, given the following four independent assumptions:

a. Preferred stock is nonparticipating and cumulative

b. Preferred stock participates up to 12% of its par value and is cumulative

c. Preferred stock is fully participating and cumulative

d. Preferred stock is nonparticipating and noncumulative

Accounting Basics, Accounting

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  • Reference No.:- M947875

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