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What are the dividends received by preferred stockholders

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Question - Brown Inc. has 5,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31. 2017, and December 31, 2016. The board of directors declared and paid a $12,000 dividend in 2016, In 2017, $60,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2017? Show all calculations.

Reference no: EM133185369

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