Preferred stockholders should receive dividends totaling

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Reference no: EM13749723

Ocean view Wholesale Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2014. Assuming that total dividends declared in 2014 were $80,000 and that the preferred stock is cumulative with two years' preferred dividends in arrears on December 31, 2013, the preferred stockholders should receive 2014 dividends totaling:

Reference no: EM13749723

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