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A corporation was organized on January 1 and issued the following shares of stock 3) 2,500 shares of $100 par value, 8% non-participating preferred stock.
A corporation was organized on January 1 and issued the following shares of stock 3) 2,500 shares of $100 par value, 8% non-participating preferred stock. 4) 20,000 shares of $20 par value common stock. All shares were issued and outstanding throughout the next three years. The corporation declared and paid a cash dividend in each of those years as follows: Year 1 - $25,000 Year 2 - $8,000 Year 3 - $75,000 Required: 3) Calculate the dividends paid to each class of stock in each of those years assuming the preferred stock is NON-CUMULATIVE. Use the matrix format listed below. Be sure to show your supporting calculations and label them to indicate which numbers in the matrix they are supporting
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