A company has two classes of stock issued common and

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A company has two classes of stock issued: common and preferred. There are 5,000 shares of $100 par value, 8% cumulative preferred stock.The company has declared and paid the following dividends in the past 4 years:

2001, $50,000

2002, $0

2003, $65,000

2004, $10,000

What is the amount of dividends in arrears at the end of 2004 for preferred shareholders? Assume there were no dividends in arrears from years prior to 2001.

Reference no: EM13609136

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