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Multiple Choice Question 57 Swifty, Inc., has 9100 shares of 3%, $100 par value, noncumulative preferred...

Multiple Choice Question 57

Swifty, Inc., has 9100 shares of 3%, $100 par value, noncumulative preferred stock and 72800 shares of $1 par value common stock outstanding at December 31, 2020. There were no dividends declared in 2019. The board of directors declares and pays a $120600 dividend in 2020. What is the amount of dividends received by the common stockholders in 2020?

$9100
$27300
$93300
$0
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Answer #1

Total dividend declared and paid by board is $120600 Dividend of preferred stock is = 9100 shares * $100 * 3% = $27300 Divide

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