Reference no: EM132783228
On January 1, 2022, ABC Company's stockholders' equity included the following:
a. Preferred stock (8%, $70 par, 13,000 shares issued & outstanding)
b. Common stock ($15 par, 22,000 shares issued &; outstanding)
During 2022, ABC Company entered into the following transactions:
1. On March 1, ABC re-acquired 9,000 shares of the outstanding common stock for $19 per share.
2. On May 18, ABC re-issued 1,500 of the shares re-acquired on March 1 for $17 per share.
3. On July 21, ABC re-issued 1,400 of the shares re-acquired on March 1 for $21 per share.
4. On August 7, ABC sold 6,000 shares of its preferred stock to investors for $60 per share.
5. On September 28, ABC re-issued 2,200 of the shares re-acquired on March 1 for $14 per share.
6. On November 1, ABC declared and paid the annual preferred stock dividend on the outstanding preferred stock as well as a $3.50 per share dividend on the outstanding common stock.
Problem 1: Calculate the total dollar amount of dividends paid to all stockholders on November 1.
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