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Cash Dividends Kerry Company has 1,450 shares of $100 par value, 12% preferred stock and 10,400 shares of $10 par value common stock outstanding. The
Cash Dividends Kerry Company has 1,450 shares of $100 par value, 12% preferred stock and 10,400 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating. Dividends were paid in 2013. Since 2013, Kerry has declared and paid dividends as follows: 2014 2015 2016 2017 Required: 1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2015 to 2017. If an amount is zero, enter "O" Year 2015 2016 2017 2. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year? Year 2015 2016 2017 $ 0 17,900 36,300 41,200 Preferred Dividends Common Dividends Preferred Dividends Common Dividends
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