How will the dividend be distributed

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Reference no: EM133328314

Question: Docker, Inc. has 550,000 shares of $5 par value common stock and 80,000 shares of $10 par value, 6%, cumulative, participating preferred stock outstanding.

Dividends on the preferred stock are one year in arrears. Assuming that Docker wishes to distribute $350,000 as dividends, how will the dividend be distributed?

Reference no: EM133328314

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