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Compute the total dividends paid to common shareholders

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Question - Houdini Inc. has 1.000 shares of 5%. $150 par preferred stock outstanding. In addition, the company has 100.000 shares of common stock outstanding. The company started business on January 1 of Year 1. Total cash dividends paid during Year 1 and Year 2 were $5.000 and $5.000 respectively. Compute the total dividends paid to common shareholders in Year 2 assuming that the preferred stock is cumulative.

Reference no: EM133173401

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