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Stockholders' equity: 71(1)/(2)% cumulative preferred stock, $100 par value, 100,000 shares authorized Common stock, $2 par value, 900,000 shares authorized Additional paid-in capital: common stock
Stockholders' equity:\
71(1)/(2)%
cumulative preferred stock,
$100
par value,\ 100,000 shares authorized\ Common stock,
$2
par value, 900,000 shares\ authorized\ Additional paid-in capital: common stock\ Retained earnings\ Total stockholders' equity\ Instructions\ From this information, compute answers to the following questions.\ a. How many shares of preferred stock have been issued?\ b. What is the total amount of the annual dividends paid to preferred stockholders?
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