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Determine the dividends in arrears for preferred stock

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Reference no: EM132968879

Question - Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1 $10,000

Year 2 45,000

Year 3 90,000

Determine the dividends in arrears for preferred stock for the second year.

a. $30,000

b. $0

c. $25,000

d. $10,000

Reference no: EM132968879

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