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Atlantis Corporation has 18,000 shares of 11%,$78 par noncumulative preferred stock outstanding and 21,000 shares...

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Accounting

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Atlantis Corporation has 18,000 shares of 11%,$78 par noncumulative preferred stock outstanding and 21,000 shares of no-par common stock outstanding. At the end of the current year, the corporation declares a dividend of $200,000. How is the dividend allocated between preferred and common stockholders? A. The dividend is allocated $92,308 to preferred stockholders and $107,692 to common stockholders

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