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Ultimate Sportswear has $210,000 of 9% noncumulative, nonparticipating, preferred stock outstanding. Ultimate Sportswear also has $610,000 of common stock outstanding. In the company's first year
Ultimate Sportswear has $210,000 of 9% noncumulative, nonparticipating, preferred stock outstanding. Ultimate Sportswear also has $610,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $41,000 This dividend should be distributed as follows: O $0 preferred; $41,000 common. O $20,500 preferred; $20,50o common. O $10,250 preferred; $30,750 common. O $18,900 preferred $221oo common. O $22,000 pr common
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