Outstanding stock of the Sheridan Company included 35000 shares of $5 par common stock and 14000 shares of 5%, $10 par non-cumulative preferred stock. In 2016, Sheridan declared and paid dividends of $3500. In 2017, Sheridan declared and paid dividends of $10500. How much of the 2017 dividend was distributed to preferred shareholders
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Outstanding stock of the Sheridan Company included 35000 shares of $5 par common stock and 14000 sha...
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