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Hu Corp. had the following stock issued and outstanding at January 1, 2010: 50,000 shares of no-par common stock. 10,000 shares of $100 par, 3
Hu Corp. had the following stock issued and outstanding at January 1, 2010: 50,000 shares of no-par common stock. 10,000 shares of $100 par, 3 percent, cumulative preferred stock. (Dividends are in arrears for one year, 2009.) On February 1, 2010, Hu declared a $100,000 cash dividend to be paid March 31 to shareholders of record on March 10. Required: What amount of dividends will be paid to the preferred shareholders versus the common shareholders? (Amounts to be deducted should be indicated with minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
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