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Bridgeport Corporation has outstanding 10,500 shares of $100 par value, 6% preferred stock and 58,800 shares of $10 par value common stock. The preferred
Bridgeport Corporation has outstanding 10,500 shares of $100 par value, 6% preferred stock and 58,800 shares of $10 par value common stock. The preferred stock was issued in January 2020, and no dividends were declared in 2020 or 2021. In 2022, Bridgeport declares a cash dividend of $281,000. (a) Assume that the preferred are noncumulative. How much dividend will the preferred stockholders receive? Preferred stockholders would receive $ How much dividend will the common stockholders receive? Common stockholders would receive +A $ (b) Assume that the preferred are cumulative. How much dividend will the preferred stockholders receive? Preferred stockholders would receive $ How much dividend will the common stockholders receive? Common stockholders would receive +A $
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