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Jan. 3. Split the common stock 3 for 1 and reduced the par from $90 to $30 per share. After the split, there were 750,000
Jan. 3. Split the common stock 3 for 1 and reduced the par from $90 to $30 per share. After the split, there were 750,000 common shares outstanding. May 1. Declared semiannual dividends of $1.40 on 35,000 shares of preferred stock and $0.09 on the common stock to stockholders of record on May 15, payable on June 1. I've done this question several times. The answer is *not* $116,500 ($1.40 x 35,000 + $.09 x 750,000). What am I doing wrong
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