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Kroger Company headquartered in Cincinnati Ohio has $100,000 of 8% noncumulative, nonparticipating, preferred stock outstanding. Kroger also has $500,000 of common stock outstanding. In the
Kroger Company headquartered in Cincinnati Ohio has $100,000 of 8% noncumulative, nonparticipating, preferred stock outstanding. Kroger also has $500,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $30,000. This dividend should be distributed as follows: $7,500 preferred; $22,500 common. $15,000 preferred; $15,000 common. $16,000 preferred: $14,000 common. $8,000 preferred: $22,000 common. $0 preferred: $30,000 common
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