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Torino Company has 2,400 shares of $10 par value, 4.5% cumulative and nonparticipating preferred stock...

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Accounting

Torino Company has 2,400 shares of $10 par value, 4.5% cumulative and nonparticipating preferred stock and 24,000 shares of $ 10 par value common stock outstanding. The company total cash dividends of $500 in its first year of operation.

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