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At December 31, 2023, Loaf Co. had 50,000 non-cumulative preferred shares outstanding for the entire year. Each preferred share was convertible into 20 common shares
At December 31, 2023, Loaf Co. had 50,000 non-cumulative preferred shares outstanding for the entire year. Each preferred share was convertible into 20 common shares ahd had a dividend rate of $5 per share. No dividends were declared in 2023. What is the potential number of common shares for its year ending December 31,2023 ? a. 1,000,000 b. 50,000 C. 0 d. 2,500
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