Solution-Find the amount of dividends paid each year

Find the amount of dividends paid each year

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Reference no: EM131816131

Question - Norton's outstanding stock consists of (a) 58,000 shares of cumulative 8.00% preferred stock with a $10 par value and (b) 145,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.

2009	$37,000
2010	39,650
2011	91,400
2012	136,400

Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative.

Reference no: EM131816131

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Find the amount of dividends paid each year

Reference no: EM131816131

Reference no: EM131816131

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