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7 years ago
Ironworks, Inc. has declared a $20,000 cash dividend to shareholders. The company has 5,000 shares of $15-par, 10% preferred stock and 10,000 shares of $20-par common stock. The preferred stock is non-cumulative. How much will be distributed to the preferred and common stockholders on the date of payment?
A) $0 preferred, $20,000 common
B) $7,500 preferred, $12,500 common
C) $20,000 preferred, $0 common
D) $12,500 preferred, $7,500 common
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Financial Accounting

Financial Accounting


Edition: 3rd
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Massachusetts Institute of Technology
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