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The shareholders’ equity of Tru Corporation includes $620,000 of $1 par common stock and $1,220,000 par...

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Accounting

The shareholders’ equity of Tru Corporation includes $620,000 of$1 par common stock and $1,220,000 par of 7% cumulative preferredstock. The board of directors of Tru declared cash dividends of$152,000 in 2018 after paying $62,000 cash dividends in each of2017 and 2016.

Required:
What is the amount of dividends common shareholders will receive in2018?

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The amount of dividends common shareholders will receive in 2018 19800 Computation The dividends for cumulative preferred stock do accumulate if they are not paid and consequentially go into arrears Working note 1 Computation of dividend per year to be payable to preferred shareholders a Par value of the preferred stock 1220000 b Percentage of preferred dividend 7 Preferred dividend    See Answer
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