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How much will the common stockholders receive

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Question - On December 31, 2023, Contreras Corp. has 1,500 shares outstanding of $20 par value 6% preferred stock and 3,000 shares outstanding of $30 par value common stock. The company did not pay out dividends in 2021 and 2022. As of December 31, 2023, the company will distribute $110,000 in dividends. Contreras began operations January 1, 2021. How much will the common stockholders receive if the preferred stock is non- cumulative and non-participating?

Reference no: EM133125025

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