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Suppose a company had the following stock outstanding and retained earnings on December 31, 2011. Common Stock (par $7; outstanding, 22,000 shares) $154,000 Preferred Stock, 10% $60,000 Retained Earnings $179,000 Suppose that the preferred stock is noncumulative, and the total amount of dividends is $29,000. Compute the amounts of dividends, in total and per share, that would be payable to each class of stockholders.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9946150

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