Exercise 11-9 dividends on common and cumulative preferred

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Exercise 11-9 Dividends on common and cumulative preferred stock L.O. C2 Wade's outstanding stock consists of 46,000 shares of cumulative 6.00% preferred stock with a $10 par value and also 115,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. 2011 $ 22,000 2012 22,350 2013 62,600 2014 97,600 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.

Reference no: EM13567818

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