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What is the amount of dividends received by the ordinary

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Problem 1: ABC, Inc., has 5,000 shares of 5%, $100 par value, cumulative preference shares and 20,000 shares of $1 par value ordinary shares outstanding at December 31, 2011. There were no dividends declared in 2009. The board of directors declares and pays a $45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the ordinary shareholders in 2011?

Reference no: EM132772723

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