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Question 1 Which of the following is not a prerequisite to paying a cash dividend? a. sufficient retained earnings b. market value in excess of par value per share c. formal action by the board of directors d. sufficient cash Question 14 Blue and White Company has 30,000 shares of cumulative preferred 3 stock, 560 par and 90.000 shares of $185 par common stock. The following amounts were distributed as dividends: Year 1 $102,600 Year 2$ 42,000 Year 3 5442,200 Determine the amount of dividends received for common stockholders in Year 3. a $388.200 b. $376,200 C. 516,650,000 d. 51,800,000