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Lighthouse Inc., a software development firm, paid a total of $75,000 in dividends in fiscal year 2020. For the year Lighthouse had 3,000 shares of
Lighthouse Inc., a software development firm, paid a total of $75,000 in dividends in fiscal year 2020. For the year Lighthouse had 3,000 shares of cumulative preferred $6 stock, $15 par and 15,000 shares of common stock, $10 par issued. Lighthouse did not pay dividends in 2018, and 2019. Required: Determine how much each common shareholder and preferred shareholder will receive? Show Your Work
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