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help asap Teal Mountain Ridge Corporation was organized on January 1, 2018. During its first year, the corporation issued 49,000 shares of 55 par value
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Teal Mountain Ridge Corporation was organized on January 1, 2018. During its first year, the corporation issued 49,000 shares of 55 par value preferred stock and 470,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends: 2018 $8.900 2019 $33,000 2020 $69.500 Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and not cumulative. Preferred Common Total 2018 $ $ 2019 2020 Step by Step Solution
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