A company has 400,000 shares of $100 par value, 4% cumulative preferred stock outstanding. It also has
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Question:
A company has 400,000 shares of $100 par value, 4% cumulative preferred stock outstanding. It also has
5,000,000 shares of $2 par value common stock outstanding. The company was founded in 2011 and
paid dividends as follows since that time:
2011: no dividends were paid
2012: a total of $900,000 was distributed as dividends
2013: a total of $1,500,000 was distributed as dividends.
2014: a total of $5,000,000 was distributed as dividends.
How much was received by each class of stock in each year?Per share amounts are not required.
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