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How much the preferred and common shareholders will receive

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Reference no: EM132490941

At December 31, 2017, Russia Inc. has outstanding the following shares:

  • 5,000, $3.20, no par value preferred shares with a carrying value of $200,000, and 40,000 no par value common shares with a carrying value of $600,000.
  • No dividends have been paid since December 31, 2014. The corporation now desires to distribute $120,000 in dividends.

Instructions

Question 1: Calculate how much the preferred and common shareholders will receive if the preferred shares are cumulative and fully participating.

Reference no: EM132490941

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