Merchants Corporation has 30,000 shares of 6.5%,$100 par value cumulative preferred stock and 200,000 shares of $10 par value common stock issued and outstanding.There are two years of dividends in arrears on the preferred stock.Determine the amount of dividends each class of stock will receive in total and per share assuming the company declares a $935,000 dividend.

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The Answer of Merchants Corporation has 30,000 shares of 6.5%,$100 par value cumulative preferred stock and 200,000 shares of $10 par value common stock issued and outstanding.There are two years of dividends in arrears on the preferred stock.Determine the amount of dividends each class of stock will receive in total and per share assuming the company declares a $935,000 dividend.

Merchants Corporation Has 30,000 Shares of 6