Margil Industries has 40,000 shares of 9 percent cumulative preferred stock and 30,000 shares of common stock outstanding.Par value for each is $50.The company has paid no dividends for the past two years.This year,a $620,000 dividend is paid.How much of the $620,000 is paid to the common shareholders?

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The Answer of Margil Industries has 40,000 shares of 9 percent cumulative preferred stock and 30,000 shares of common stock outstanding.Par value for each is $50.The company has paid no dividends for the past two years.This year,a $620,000 dividend is paid.How much of the $620,000 is paid to the common shareholders?

Margil Industries Has 40,000 Shares of 9 Percent Cumulative Preferred