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Please show work At December 31, 2019 and 2020, Sloan Corp. had outstanding 9,000 shares of $100 par value 8% cumulative preferred stock and 30,000
Please show work
At December 31, 2019 and 2020, Sloan Corp. had outstanding 9,000 shares of $100 par value 8% cumulative preferred stock and 30,000 shares of $10 par value common stock. At December 31, 2019, dividends in arrears (owed) on the cumulative preferred stock were $36,000. Cash dividends declared on both common and preferred in 2020 totaled $135,000. What amounts was paid to the preferred stockholders? 108,000 What amount was paid to the common stockholders? 27,000 Step by Step Solution
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