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Find the total dollar amount of dividends

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Problem - Towson Corp., had 5000 shares of $100 par, 5% cumulative preferred stock as of January 1, 2018. No additional shares of preferred stock were issued during fiscal years 2018 & 2019. Dividends were paid to common shareholders in 2017 but no shareholders were paid dividends in 2018. A total of $90,000 of dividends was paid in 2019. Find the total dollar amount of dividends that was paid to common shareholders during fiscal year 2019. Can you walk me through on how to solve this type of problem?

Reference no: EM132464812

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