total dividend payable to preferred stockholders

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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On December 31, 20X4, Cisco Company had 5,000  shares of P10 par value, 15 percent, cumulative preferred stock outstanding. Dividends are in arrears for 3 years. Since 20X4 was a profitable year, the company paid its dividend in full. What is the total dividend payable to preferred stockholders?  

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