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Barstow Corporation has a single class of common shares and a single class of cumulative preferred shares. The cumulative preferred shares require the corporation to
Barstow Corporation has a single class of common shares and a single class of cumulative preferred shares. The cumulative preferred shares require the corporation to pay an annual dividend of $3,750 to preferred shareholders. On January 1, 2022, Barstow's preferred dividends were one year in arrears, which means that Barstow declared neither preferred nor common dividends in 2021. During the three years (20222024), Barstow's board of directors determined they would be able to pay $5,000, $7,000, and $13,200, respectively.
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