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Nowell Incorporated had the following stock issued andoutstanding at January 1, Year 2: 1. 100,000 shares of no-parcommon stock. 2. 23,000 shares of $50 par,

Nowell Incorporated had the following stock issued andoutstanding at January 1, Year 2: 1. 100,000 shares of no-parcommon stock. 2. 23,000 shares of $50 par, 5 percent, cumulativepreferred stock. ( 1 answer

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