Edward Accounting Services has an outstanding issue of 1,000 shares preferred stock with a $100 par value,an 9 percent annual dividend,and 5,000 shares of common stock outstanding.If the stock is cumulative and the board of directors has not paid the preferred dividend for the last two years,how much must preferred stockholders be paid (in total,not per share)before dividends are paid to common stockholders?

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The Answer of Edward Accounting Services has an outstanding issue of 1,000 shares preferred stock with a $100 par value,an 9 percent annual dividend,and 5,000 shares of common stock outstanding.If the stock is cumulative and the board of directors has not paid the preferred dividend for the last two years,how much must preferred stockholders be paid (in total,not per share)before dividends are paid to common stockholders?

Edward Accounting Services Has an Outstanding Issue of 1,000 Shares