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Hi! can someone help me answer this question? Norton, Inc. has 10,000 shares of 6%, $100 par value, noncumulative preferred stock and 100,000 shares of
Hi! can someone help me answer this question?
Norton, Inc. has 10,000 shares of 6%, $100 par value, noncumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2010, and December 31, 2011. The board of directors declared and paid a $50,000 dividend in 2010. In 2011, $110,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2011?
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