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6. Rifton Corporation had the following stock outstanding for years 2001 through 2004: Preferred Stock - $100 par value, 7% cumulative, 10,000 shares authorized, 5,000

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6. Rifton Corporation had the following stock outstanding for years 2001 through 2004: Preferred Stock - $100 par value, 7% cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding. Common Stock - $20 par value, 10,000 shares authorized, 7,000 shares issued and outstanding Rifton paid $20,000, $30,000, $100,000, and $15,000 in cash dividends during 2001, 2002, 2003, and 2004, respectively. (a) Calculate the total cash dividends received by owners of preferred and common stock in each year

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