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The Mailer Corporation had the following classes of stock outstanding as of Dec. 31, 2017:...

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Accounting

The Mailer Corporation had the following classes of stock outstanding as of Dec. 31, 2017: Common stock, $20 par value, 20,000 shares outstanding Preferred stock, 5 percent, $100 par value, cumulative, 2,000 shares outstanding No dividends were paid on preferred stock for 2015 and 2016. On December 31, 2017, a total cash dividend of $150,000 was declared.

Determine the amount of dividends payable on both the cumulative preferred stock and common, respectively.

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