Andrews capital structure consists of 5 percent cumulative preferred stock and common stock. Its preferred...
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Andrews capital structure consists of 5 percent cumulative preferred stock and common stock. Its preferred stock has a $100 par value; 6,000 preferred shares are issued and outstanding. Each preferred share is convertible into ten common shares. The preferred stock has been outstanding since 20x1. Its common stock has a $10 par value, and 100,000 shares have been issued and outstanding all year (no share change during the year). Andrews also has 5,000
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