Michelangelo inc a software development firm has stock

Reference no: EM13605284

Michelangelo Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative 1%, preferred stock of $25 par, and 25,000 shares of $100 par common. During its first four years of operations, the amounts were distributed as dividends: first year, $3,000; second year, $4,000; third year, $30,000; fourth year, $80,000.

Reference no: EM13605284

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