Fargo Company's outstanding stock consists of 650 shares of noncumulative 5% preferred stock with a $10 par value and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the follow

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Fargo Company's outstanding stock consists of 650 shares of noncumulative 5% preferred stock with a $10 par value and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the follow

Fargo Company's outstanding stock consists of 650 shares of noncumulative 5% preferred stock with a $10 par value and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

	Dividends Declared & Paid
year 1	$	30,000
year 2	$	8,000
year 3	$	39,000

The amount of dividends paid to preferred and common shareholders in year 1 is

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Answer 1

Answer #1

Preffered 325

Common 29,675

explanation

650*10*5%=325 preffered

30,000- 325= 29,675

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Answer 2

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Fargo Company's outstanding stock consists of 650 shares of noncumulative 5% preferred stock with a $10 par value and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the follow

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Add Answer to: Fargo Company's outstanding stock consists of 650 shares of noncumulative 5% preferred stock with a $10 par value and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the follow

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Fargo Company's outstanding stock consists of 650 shares of noncumulative 5% preferred stock with a $10 par value and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the follow