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XYZ Co. has two classes of stock outstanding; 20,000 shares of $1 par common stock...

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Accounting

XYZ Co. has two classes of stock outstanding; 20,000 shares of $1 par common stock and 4,000 shares of $10 par 6% preferred stock. No dividends were paid the previous two years. If XYZ wishes to pay $50,000 in dividends, how would that amount be allocated to common and preferred if preferred were: a) cummulative and participating; b) cumulative and non-participating; c) non-cumulative, nonparticipating?

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