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IG5 IG6 Financial Learning Systems has 2.5 million shares of common stock outstanding and 100,000...

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IG5 IG6 Financial Learning Systems has 2.5 million shares of common stock outstanding and 100,000 shares of preferred stock. (The preferred pays annual cash dividends of $5 a share, and the common pays annual cash dividends of 25 cents a share.) Last year, the company generated net profits (after taxes) of $6,850,000. The company's balance sheet shows total assets of $78 million, total liabilities of $32 million, and SS million in pre- ferred stock. The firm's common stock is currently trading in the market at $4S a share P7.9 IG5 IG6 Financial Learning Systems has 2.5 million shares of common stock outstanding and 100,000 shares of preferred stock. (The preferred pays annual cash dividends of $5 a share, and the common pays annual cash dividends of 25 cents a share.) Last year, the company generated net profits (after taxes) of $6,850,000. The company's balance sheet shows total assets of $78 million, total liabilities of $32 million, and SS million in pre- ferred stock. The firm's common stock is currently trading in the market at $4S a share P7.9

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