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Brief Exercise 11-07 Sheffield Corp. has 10,200 shares of 9%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividends were declared

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Brief Exercise 11-07 Sheffield Corp. has 10,200 shares of 9%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividends were declared in 2020 or 2021 If Sheffield wants to pay $400,000 of dividends in 2022, what amount of dividends will common stockholders receive? Dividends allocated to common stock $

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