McNamara Company has outstanding 10,000 shares of $25 par value, 6% nonparticipating, cumulative preferred stock...
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McNamara Company has outstanding 10,000 shares of $25 par value, 6% nonparticipating, cumulative preferred stock and 16,000 shares of $5 parvalue common stock. If the dividend on preferred stock is two years in arrears, and the total cash dividend declared this year is $85,000, then the total amounts distributed to preferred and common stockholders, respectively, are: A)$45,000 and $40,000
B)$13,500 and $71,500
C)$31,875 and $53,125
D)$27,000 and $58,000
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