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Current Attempt in Progress Concord, Inc. has 11600 shares of 4%, $100 par value, noncumulative preferred stock and 23200 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 $64400 dividend in 2020. What is the amount of dividends received by the common stockholders in 2020?

Current Attempt in Progress Concord, Inc. has 11600 shares of 4%, $100 par value, noncumulative preferred stock and 23200 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 $64400 dividend in 2020. What is the amount of dividends received by the common stockholders in 2020?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress Concord, Inc. has 11600 shares of 4%, $100 par value, noncumulative preferred stock and 23200 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 $64400 dividend in 2020. What is the amount of dividends received by the common stockholders in 2020? $0 O $46400 $64400 O $18000
Transcribed Image Text:Current Attempt in Progress Concord, Inc. has 11600 shares of 4%, $100 par value, noncumulative preferred stock and 23200 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 $64400 dividend in 2020. What is the amount of dividends received by the common stockholders in 2020? $0 O $46400 $64400 O $18000
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