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Problem 2. (12points) Lucky Company had the following Stockholder's Equity section on their balance sheet at the end of 20X4. The Preferred Stock is cumulative
Problem 2. (12points) Lucky Company had the following Stockholder's Equity section on their balance sheet at the end of 20X4. The Preferred Stock is cumulative and participating to 8%. No dividends were declared paid for the last two years (20X2 and 20X3). At the end of 20X4, Lucky declares a dividend to be paid to preferred and common stockholders totaling $100,000. Calculate how much of the total dividend will go to Preferred stockholders and how much will go to Common stockholders. Preferred $(Transfer your answer here, please) Common $(Transfer sour answer here, please)
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