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Current Attempt in Progress Crane Corporation has 10,600 shares of $100 par value, 8%,...

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Accounting

Current Attempt in Progress
Crane Corporation has 10,600 shares of $100 par value, 8%, preferred stock and 45,700 shares of $10 par value common stock
outstanding at December 31,2025.
Answer the questions in each of the following independent situations.
(a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31,2022, what are the
dividends in arrears on December 31,2025?
The amount of dividends in arrears on the December 31,2025 $
How should these dividends be reported?
The cumulative dividend is
as a liability.
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