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Show the allocation of dividends to each class of stock

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Question - Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 2,100 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2016, $6,350; 2017, $14,500; and 2018, $29,000 B. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 9% and cumulative.

Reference no: EM132595034

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