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Find how much will the ordinary shareholders receive

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Problem 1: Written, Inc. has outstanding 500,000 shares of P2 par common stock and 100,000 shares of no par 8% preferred stock with a stated value of P5. The preferred stock is cumulative and participating. Dividends have been paid in every year except the past two years and the current year. Assuming that P305,000 will be distributed, , how much will the ordinary shareholders receive?

a. 150,000
b. 185,000
c. 155,000
d. 80,000.

Reference no: EM132766729

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