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If a corporation has dividends in arrears on cummulative preferred stock ($15,000 per year), and...

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Accounting

If a corporation has dividends in arrears on cummulative preferred stock ($15,000 per year), and declares $40,000 of dividends during the current (second) year, how much will be paid to the common shareholders?
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Common shareholders get the total dividend - the amount due to preferred share holders.

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