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Find dividend in arrears for preferred stock for second year

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Reference no: EM132985678

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

Problem 1: Determine the dividends in arrears for preferred stock for the second year.

a.$0

b.$25,000

c.$30,000

d.$10,000

Reference no: EM132985678

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