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Baltic Corporation had the following shares outstanding when the board of directors declared a $ 1 0 0 , 0 0 0 cash dividend: Contributed
Baltic Corporation had the following shares outstanding when the board of directors declared a
$ cash dividend:
Contributed Capital
$ Preferred Shares, shares issued and outstanding $
Common Shares, shares issued and outstanding
Total Contributed Capital $
Required:
Allocate the dividend between the preferred and common shareholders assuming the preferred
shares are cumulative and one year in arrears.
Allocate the dividend between the preferred and common shareholders, assuming the preferred
shares are noncumulative and that no dividend was paid last year.
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