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Business, 21.02.2020 18:31 larahanna

Xtreme Sports has $240,000 of 6% noncumulative, nonparticipating, preferred stock outstanding. Xtreme Sports also has $640,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, Xtreme Sports paid cash dividends of $44,000. This dividend should be distributed as follows:

$0 preferred; $44,000 common.

$14,400 preferred; $29,600 common.

$11,000 preferred; $33,000 common.

$22,000 preferred; $22,000 common.

$23,000 preferred; $21,000 common.

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Xtreme Sports has $240,000 of 6% noncumulative, nonparticipating, preferred stock outstanding. Xtrem...
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