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Business, 15.02.2021 19:50 ykpwincess

Xtreme Sports has 100,000 shares of $4 par value 6% cumulative preferred stock outstanding. Xtreme Sports also has 500,000 shares of $2.00 par value 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 $60,000. This dividend should be distributed as follows:.a. $7,500 preferred; $22,500 common. b. $0 preferred; $60,000 common.
c. $15,000 preferred; $15,000 common.
d. $16,000 preferred; $14,000 common.
e. $8,000 preferred; $22,000 common.

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Xtreme Sports has 100,000 shares of $4 par value 6% cumulative preferred stock outstanding. Xtreme S...
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