What is the total amount must pay the shareholders


Topper Corporation has 60,000 shares of $1 par value common stock and 16,000 shares of cumulative 7% , $100 par preferred stock outstanding. Topper has not paid a dividend for the prior year. If Topper declares a $1.95 par share dividend this year, what will be the total amount they must pay their shareholders?

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Accounting Basics: What is the total amount must pay the shareholders
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