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Buffet Company was organized in January 2020 and has 1,000 shares of $200 par value, 10 percent, noncumulative preferred stock outstanding and 3,000 shares of
Buffet Company was organized in January 2020 and has 1,000 shares of $200 par value, 10 percent, noncumulative preferred stock outstanding and 3,000 shares of $1 par value common stock outstanding. Dividends declared and paid each year are $10,000 in 2020, $15,000 in 2021, and $75,000 in 2022. During 2022, the dividends that must be paid to the preferred and common stockholders, respectively, total _____________blank
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