The shareholders equity of Tru Corporation includes $680,000 of $1 par common stock and $1,280,000 par value
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The shareholders’ equity of Tru Corporation includes $680,000 of $1 par common stock and $1,280,000 par value of 7% cumulative preferred stock. The company paid $68,000 cash dividends in Year 1 and another $68,000 cash dividends in Year 2. The board of directors of Tru declared cash dividends of $158,000 during Year 3. What is the amount of the cash dividends that will be paid to the common shareholders in Year 3?
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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