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What amount was payable to common shares

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Problem 1: At December 31, 2004 and 2005, Louisa Corp. had outstanding 9,000 shares of P100 par value 8% cumulative preferred stock and 30,000 shares of P10 par value common stock. At December 31, 2004, dividends in arrears on the preferred stock were P36,000. Cash dividends declared in 2005 totaled P135,000.

Question 1: What amount was payable to common shares?

Reference no: EM132466974

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