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What dividends received by the preference shareholders

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Problem - Norton Company has 10,000 shares of 4%, $100 par value, noncumulative preference shares and 100,000 ordinary shares with a $1 par value outstanding at December 31, 2019, and December 31, 2020. The board of directors declared and paid a $30,000 dividend in 2019. In 2020, $110,000 of dividends are declared and paid. What are the dividends received by the preference and ordinary shareholders in 2020?

Reference no: EM133000427

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