Daisy Company LLC has 550 shares of $95 par value, 10% cumulative preferred stock, and...
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Accounting
Daisy Company LLC has 550 shares of $95 par value, 10% cumulative preferred stock, and 25,000 shares of $30 par value common stock outstanding. The following dividends were paid: Year 1: $4,000 Year 2: $35,000
What was the cash dividend paid to preferred shareholders in the second year? Select one:
a. $28,550
b. $35,000
c. $6,450
d. $0
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