Blossom Company's ledger shows the following balances on December 31 , 2025...
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Accounting
Blossom Company's ledger shows the following balances on December
Preferred stock
$
par value, outstanding
shares
$
Common stock
$
par value, outstanding
shares
Retained earnings
Assuming that the directors decide to declare total dividends in the amount of $
determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock.
a
The preferred stock is cumulative and fully participating.
Round the rate of participation to
decimal places, e
g
Round answers to
decimal places, e
g
Preferred
Common
$
$
b
The preferred stock is noncumulative and nonparticipating.
Round answers to
decimal places, e
g
Preferred
Common
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