Michelangelo Inc., a software development firm, has Shares of ownership of a corporation.stock outstanding as follows: 20,000 shares of cumulative 2%, A class of stock with preferential rights over common stock.preferred stock of $30 The monetary amount printed on a stock certificate.par, and 25,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $4,600; second year, $6,400; third year, $43,000; fourth year, $73,250.
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