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How much cash Colson distribute to the common stockholders

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Question - Colson Inc. declared a $230,000 cash dividend. It currently has 12,000 shares of 5%, $100 par value noncumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Colson distribute to the common stockholders?

a. $110,000

b. $120,000

c. $170,000

d. None

Reference no: EM132609964

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