Halverstein Company's outstanding stock consists of 7,700 shares of cumulative 5% preferred stock with a...
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Halverstein Company's outstanding stock consists of 7,700 shares of cumulative 5% preferred stock with a $10 par value and 3,300 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. 18 Dividend Declared 0 Year 1 $ 6,600 Year 2 Skipped $31,000 Year 3 The amount of dividends paid to preferred and common shareholders in Year 2 is: The amount of dividends paid to preferred and common shareholders in Year 2 is: Multiple Choice $0 preferred; $6,600common. $3,300 preferred; $3,300 common. $6,600 preferred; $0 common $3,850 preferred; $2,750 common. $4,620 preferred; $1,980 common
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