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Sunland Corporation has outstanding 10,500 shares of $100 par value, 6% preferred stock and 58,800 shares of $10 par value common stock. The preferred stock
Sunland Corporation has outstanding 10,500 shares of $100 par value, 6% preferred stock and 58,800 shares of $10 par value common stock. The preferred stock was issued in January 2017, and no dividends were declared in 2017 or 2018. In 2019, Sunland declares a cash dividend of $281,000. (a) Assume that the preferred are noncumulative. How much dividend will the preferred stockholders receive? Preferred stockholders would receive How much dividend will the common stockholders receive? Common stockholders would receive (b) Assume that the preferred are cumulative. How much dividend will the preferred stockholders receive? Preferred stockholders would receive How much dividend will the common stockholders receive? Common stockholders would receive
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