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What is the amount of dividends received

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Question - Vizcaya, Inc., has 5,000 shares of 5%, P100 par value, cumulative preference shares and 20,000 shares of P1 par value ordinary shares outstanding at December 31, 2019. There were no dividends declared in 2017. The board of directors declares and pays a P45,000 dividend in 2018 and in 2019. What is the amount of dividends received by the ordinary shareholders in 2019?

Reference no: EM132982747

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