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How much dividend the common stockholders received

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Reference no: EM132980036

Problem - White corporation provided the following information:

Preferred stock (7%, $50 par value, 1,000 shares issued and outstanding)

Common stock ($100 par value, 2,000 shares issued and outstanding)

Dividends in arrears for 2 years (2018 and 2019)

Total dividends declared and paid during 2020 was $24,000

If this preferred stock is cumulative, how much dividend the common stockholders received?

Reference no: EM132980036

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