The Mattoon Corporation has 1,000 shares of $100, 8 percent cumulative preferred stock outstanding and 20,000 shares
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The Mattoon Corporation has 1,000 shares of $100, 8 percent cumulative preferred stock outstanding and 20,000 shares of $1 par value common stock outstanding. In the company's first three years of operation, its board of directors paid cash dividends as fol-lows: 20x3, none; 20x4, $20,000; and 20x5, $40,000. Determine the total cash dividends and dividends per share paid to the preferred and common stockholders during each of the three years. SE-7
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