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marks People lab X CengageNoWv2 1 Online teacx Nearpod - Guest Speaker + /takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession.ocator=&inprogress=false...

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Accounting

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marks People lab X CengageNoWv2 1 Online teacx Nearpod - Guest Speaker + /takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession.ocator=&inprogress=false eBook Dividends for Preferred and Common Stock The Stockholders' Equity category of Greenbaum Company's balance sheet as of December 31, 2017, appeared as follows: Preferred stock, $100 par, 7% 2,000 shares issued and outstanding $200,000 Common stock, $10 par 40,000 shares issued and outstanding 400,000 Additional pald-in capital 500,000 Total contributed capital $1,100,000 Retained earnings 900,000 Total stockholders' equity $2,000,000 The notes to the financial statements indicate that dividends were not declared or paid for 2015 or 2016. Greenbaum wants to declare a dividend of $102,000 for 2017. Required: Determine the total and the per-share amounts that should be declared to the preferred and common stockholders under the following assumptions: 1. The preferred stock is noncumulative, nonparticipating 2. The preferred stock is cumulative, nonparticipating

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