Business, 25.02.2020 00:58 rleiphart1

For the last 10 years, Woody Co. has owned cumulative preferred stock issued by Hadley, Inc. During Year 11, Hadley declared and paid both the Year 11 dividend and the Year 10 dividend in arrears. How should Woody report the Year 10 dividend in arrears that was received in Year 11?

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