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Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2021: Common...

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Accounting

Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2021: Common Stock (par $1; issued and outstanding, 440,000 shares) $ 440,000 Preferred Stock, 8% (par $10; issued and outstanding, 18,500 shares) 185,000 Retained Earnings 961,000 On December 31, 2021, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2019 or 2020. Three independent cases are assumed: Case

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