Nowell Inc. had the following stock issued and outstanding at Januar , 2018: 1.150,000 shares...
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Nowell Inc. had the following stock issued and outstanding at Januar , 2018: 1.150,000 shares of no-par common stock. 2. 30,000 shares of $50 par, 4 percent, cumulative preferred stock. (Dividends are in arrears for one year, 2017.) On March 8, 2018, Nowell declared a $175,000 cash dividend to be paid March 31 to shareholders of record on March 20. Required What amount of dividends will be paid to the preferred shareholders versus the common shareholders? (Negative amount should be indicated by a minus sign.) Distributed to Shareholders Preferred Common Total Dividend Declared 175,000 Preferred Arrearage Current Preferred Dividend Available for Common 175,000 Distributed to Common S 0 $ 0 Total
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