4 on december 1 2010 ruby red declared and paid a

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Unformatted text preview: her stock transactions during the year. 3. 20,000 shares of 6% convertible preferred stock have been outstanding all year. The shares have a par value of $40, are cumulative, participating, and are convertible into 2 shares of common stock each at the option of the holder. 4. On December 1, 2010 Ruby Red declared and paid a $104,000 preferred stock dividends on the preferred stock detail...
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