Abby Company has 150,000, $50 par, 5% preferred shares of stock outstanding and 250,000 shares of common
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Question:
Abby Company has 150,000, $50 par, 5% preferred shares of stock outstanding and 250,000 shares of common stock.
Abby declared and paid dividends as follows: Year 1: 350,000; Year 2: $300,000; Year 3 $600,000; Year 4: $600,000
(1) Determine the amount of dividends paid each year to each of the two classes of stock: preferred and common. ALSO (2)compute the per share dividend paid each year to each of the two classes of stock.
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