Corrao Foods Corporation has 5000 shares of 7%, $15 par value, cumulative preferred stock and 150,000 shares of $1 par value common stock outstanding...
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Corrao Foods Corporation has 5000 shares of 7%, $15 par value, cumulative preferred stock and 150,000 shares

of $1 par value common stock outstanding at December 31, 2017 and December 31, 2018. In 2017, a $2000 dividend was declared and paid. In 2018, $39,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2018?

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Solution: Computation of the Preferred stock holders in 2018 Total Dividend per year for Preferred stock holders = 5000*15*7%... View the full answer

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