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Determine the dividends in arrears for preferred stock

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Reference no: EM132880988

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1 $10,000
Year 2 45,000
Year 3 90,000

Problem 1: Determine the dividends in arrears for preferred stock for the second year.

a.$30,000
b.$0
c.$25,000
d.$10,000

Reference no: EM132880988

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