The outstanding stock is composed of 10000 shares of 100par

Reference no: EM13615161

The outstanding stock is composed of 10,000 shares of $100par, cumulative preferred $8 stock, and 50,000 shares of no-parcommon stock. Preferred dividends have been paid every year exceptfor the preceding year and the current year. If $380,000 is to bedistributed as a dividend for the current year, what total amountwill be distributed to the preferred stockholders?

Reference no: EM13615161

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