Oceanview Wholesale Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15,000...
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Accounting
Oceanview Wholesale Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2017. These data apply to each of the independent situations below.
1.Assuming that total dividends declared in 2017 were $25,000 and that the preferred stock is not cumulative, common stockholders should receive total 2017 dividends of:
$________________.
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