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Exercise 13-9 Dividends on common and cumulative preferred stock L.O. C2
Wade’s outstanding stock consists of 52,000 shares of cumulative 9.50% preferred stock with a $10 par value and also 130,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.
2011 $ 40,000
Determine the amount of dividends paid each year to each of the two classes of stockholders. (Leave no cells blank – be certain to enter “0” wherever required. Omit the “$” sign in your response.)
2011 $ $
2012 $ $
2013 $ $
2014 $ $
Determine the total dividends paid to each class for the four years combined. (Omit the “$” sign in your response.)
Total dividends for four years $ $
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