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Sunland Corp. has outstanding 21900 no par value, $0.80, preferred shares and 119000 no par value common shares. Dividends have been paid every year except last year and the current year. The carrying value of the preferred shares is $219000 and of the common shares is $357000.

Sunland Corp. has outstanding 21900 no par value, $0.80, preferred shares and 119000 no par value common shares. Dividends have been paid every year except last year and the current year. The carrying value of the preferred shares is $219000 and of the common shares is $357000.

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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Sunland Corp. has outstanding 21900 no par value, $0.80, preferred shares and 119000 no par value common shares. Dividends have been paid every year except last year and the current year. The carrying value of the preferred shares is $219000 and of the common shares is $357000. If the preferred shares are noncumulative and fully participating and $69120 is distributed as a dividend, the common shareholders will receive O $37845. $0. $48795. $42840.
Transcribed Image Text:Sunland Corp. has outstanding 21900 no par value, $0.80, preferred shares and 119000 no par value common shares. Dividends have been paid every year except last year and the current year. The carrying value of the preferred shares is $219000 and of the common shares is $357000. If the preferred shares are noncumulative and fully participating and $69120 is distributed as a dividend, the common shareholders will receive O $37845. $0. $48795. $42840.
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