Pharoah Corporation issued $117,000$ shares of $$19$ par value, cumulative, $7\%$ preferred stock on January $1,2021,$ for $$2,530,000.$ In December $2023,$ Pharoah declared its first dividend of $$840,000.$

$($b$)$

$($c$)$

Your answer is incorrect.

If the preferred stock is cumulative, how much of the $$840,000$ would be paid to common stockholders?

Common Stock Dividends

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