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Need ASAP The following information is provided for Bold Company for the year 2019: Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding
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The following information is provided for Bold Company for the year 2019:
Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding
Common stock, $100 par value, 2,000 shares issued and outstanding
Dividends in arrears for three prior years (2016-2018)
Total dividends declared and paid in 2019 were $90,000.
How much of the 2019 dividend payment was paid to the common stockholders assuming the preferred stock is cumulative?
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