Xtreme sports has 150000 of 8 noncumulative

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Xtreme Sports has $150,000 of 8% noncumulative, nonparticipating, preferred stock outstanding. Xtreme Sports also has $550,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, Xtreme Sports paid cash dividends of $35,000.

Reference no: EM13582648

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