Lili Company, which has 20,000 shares of $10 par value common stock and 6,000 shares...
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Accounting
Lili Company, which has 20,000 shares of $10 par value common stock and 6,000 shares of 7% preferred stock with a $13 par value, declares a $22,800 cash dividend to be paid three (3) months from the date of declaration.
Calculate the following: i). Cash dividend for preferred stock. ii). Cash dividend for common stock.
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