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Question - Macy Company has 10,000 shares of 2% cumulative preferred stock of $50 par and 25,000 shares of $75 par common stock. The following amounts were distributed as dividends:
Year 1
$30,000
Year 2
6,000
Year 3
80,000
Required: Determine the dividends per share for preferred and common stock for each year.
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31.
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