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Need answer and explanation. Please do not respond that the question is incomplete because is not. D Question 9 1 pts A company was organized
Need answer and explanation. Please do not respond that the question is incomplete because is not.
D Question 9 1 pts A company was organized on January 1, 2011. During its first year, the company issued the following stock and have made no other stock issuances since: Preferred Stock (4%, $80 par, cumulative, 10,000 shares authorized, 6,000 issued and outstanding) Common Stock ($5 par, 100,000 authorized, 80,000 issued, 70,000 outstanding) On December 31, the company declared the following cash dividends in each respective year: 2011: $5,000; 2012: $12,000; 2013: $54,000 Determine the amount of dividends that the common stockholders will receive in 2013: o o o o o $19,200 $13,400 $34,800 $54,000 $0
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