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Marlin, Inc., declared a cash dividend of $40,000 in 2013 when the following stocks were outstanding: Common stock 20.000 shares, par $15 $300,000 Preferred stock,

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Marlin, Inc., declared a cash dividend of $40,000 in 2013 when the following stocks were outstanding: Common stock 20.000 shares, par $15 $300,000 Preferred stock, 6% 2.500 shares, par $10 25.000 No dividends were declared or paid during the prior year. Compute the amount of cash that would be paid to each stockholder group under each of the following separate cases. Case A The preferred stock is noncumulative. Preferred: $ _____Common $_____ Case B The preferred stock is cumulative. Preferred: $_____Common $______

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