Wong and Burton owned several hundred shares of preferred stock in Classic,Inc.For three years,neither were paid dividends.In the fourth year,Classic paid dividends to both shareholders.Wong also received payment for dividends from the preceding three years.Burton did not receive any dividends from those years.Identify the type of stock owned by each shareholder.

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The Answer of Wong and Burton owned several hundred shares of preferred stock in Classic,Inc.For three years,neither were paid dividends.In the fourth year,Classic paid dividends to both shareholders.Wong also received payment for dividends from the preceding three years.Burton did not receive any dividends from those years.Identify the type of stock owned by each shareholder.

Wong and Burton Owned Several Hundred Shares of Preferred Stock