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At the beginning of its first year of operations, Bonita Limited has 4,900, $3 preferred...

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Accounting

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At the beginning of its first year of operations, Bonita Limited has 4,900, $3 preferred shares and 48,000 common shares. Using the format shown below, allocate the total dividend paid in each year to the preferred and common shareholders, assuming that the preferred shares are (a) noncumulative, and (b)cumulative. (a) (b) Dividend Paid Noncumulative Preferred Cumulative Preferred Year Common 1 $14,700 $ $ $ $ 2. 10,700 3 24,700 4 24,700 Save for Later Attempts: 0 of 1 used Submit Answer (b) Cumulative Preferred Common Common $ $

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