In each of the following independent cases, it is assumed that the corporation has $810,000...
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Accounting
In each of the following independent cases, it is assumed that the corporation has $810,000 of 6% preferred stock and $3,240,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2016 and 2017. On 12/31/18, the preferred stockholders received a $200,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during 2018?
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