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Smith & Co. has 20,000 shares of 1% cumulative preferredstock of $100 par and 100,000 shares of $50 par common stock. Thefollowing amounts were distributed

Smith & Co. has 20,000 shares of 1% cumulative preferredstock of $100 par and 100,000 shares of $50 par common stock. Thefollowing amounts were distributed as dividends. (10 points)Year 1 $10, 2 answers

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