Bennett Company paid cash dividends totaling $150,000 in 2008 and $75,000 in 2009. In 2010,...
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Bennett Company paid cash dividends totaling $150,000 in 2008 and $75,000 in 2009. In 2010, Bennett intends to pay cash dividends of $800,000. Compute the amount of cash dividends to be received by preferred and common stockholders in 2008, 2009, and 2010 under each of the following assumptions. Treat each case independently. There were no dividends in arrears as of January 1, 2008. (1) 100,000 shares of 6 percent, $50 par cumulative preferred; 25,000 shares of common (2) 50,000 shares of 6 percent, $50 par noncumulative preferred; 25,000 shares of common (3) 70,000 shares of 6 percent, $100 par cumulative preferred; 25,000 shares of common
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