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ABC Inc. has 10% preferred stocks with a total par value of $200,000 and common stocks with a total par value of $100,000. In year

ABC Inc. has 10% preferred stocks with a total par value of $200,000 and common stocks with a total par value of $100,000. In year 1 ABC distributed cash dividends of $10,000, in year 2 it did not declare any dividends, and in year 3 ABC distributed cash dividends of $70,000. Required: Calculate the dividend distribution (preferred, common and arrears) for all three years assuming the preferred stock is cumulative and participates up to 14%. Must show all your work to receive creditimage text in transcribed

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