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Calculate the total dividends to be paid to each group

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XYZ Corporation has issued and outstanding a total of 40,000 shares of $13 preferred shares and 180,000 of common shares. The company began operations and issued both classes of shares on January 1, 2017.

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Question 1. Calculate the total dividends to be paid to each group of shareholders in each year by completing the following chart. Assume that the preferred shares are cumulative.

Year Dividends                    Amount               Preferred Dividends              Common Dividends

Declared

2017                                    580,000

2018                                   110,000

2019                                   240,000

2020                                    3,950,000

Reference no: EM132505486

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