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On May 1, 2011, Farmington Company received a charter that authorized it to issue: 12-4...

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Accounting

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On May 1, 2011, Farmington Company received a charter that authorized it to issue: 12-4 stock for cash, . 4,000 shares of no-par preferred stock to which a stated value of S12 per share is assigned. The stock is entitled to a cumulative dividend of $9.60, convertible into shares of common stock, callable at $208, and entitled to $200 per share in li two re resulting ers' equity 0.5)

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