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Orac Company has outstanding 10,000 shares of $10 par value, 10% cumulative preferred stock and...

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Accounting

Orac Company has outstanding 10,000 shares of $10 par value, 10% cumulative preferred stock and 100,000 shares of $1 par value common stock. During its first three years in business, it declared and paid no cash dividends in the first year, $30,000 in the second year, and $120,000 in the third year.What is the amount of dividend paid to common stockholders over the three years?
Orac Company has outstanding 10,000 shares of $10 par value, 10% cumulative preferred stock and 100,000 shares of $1 par value common stock. During its first three years in business, it declared and paid no cash dividends in the first year, $30,000 in the second year, and $120,000 in the third year.What is the amount of dividend paid to common stockholders over the three years?
$150,000
$90,000
$120,000
$30,000

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