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Question - Cableserve Inc. has the following outstanding shares:
10,500 shares, $5.40 cumulative preferred
26,000 shares, common
During 2017, the company declared and paid $129,000 in dividends. Dividends were in arrears for the previous year (2016) only. No new shares have been issued since the first year of operations.
Required -
1. What was the total amount paid to the preferred shareholders as dividends in 2017?
2. What was the total amount paid to the common shareholders as dividends in 2017?
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