Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15000 shares of $25 par value common stock and outstanding throughout 2010.  Assuming that total dividends declared in 2010 were $45,000, that the cumulative preferred stock was issued on January 1, 2009 and that $10,000 of preferred dividends were declared and paid in 2009, the common stockholders should receive 2010 dividends totaling ____ . (How do you arrive at this answer)

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 4R: The following selected transactions and events occurred during 2013: a. Issued 200 shares of...
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Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15000 shares of $25 par value common stock and outstanding throughout 2010. 

Assuming that total dividends declared in 2010 were $45,000, that the cumulative preferred stock was issued on January 1, 2009 and that $10,000 of preferred dividends were declared and paid in 2009, the common stockholders should receive 2010 dividends totaling ____ . (How do you arrive at this answer) 

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