Marion, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2020. The board of directors declares and pays a $65,000 dividend in 2021. What is the amount of dividends received by the common stockholders in 2021? O so $65,000 O $40,000 $25,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION 20
Marion, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding
at December 31, 2021. There were no dividends declared in 2020. The board of directors declares and pays a $65,000 dividend in 2021. What is the
amount of dividends received by the common stockholders in 2021?
$0
$65,000
$40.000
$25,000
Transcribed Image Text:QUESTION 20 Marion, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2020. The board of directors declares and pays a $65,000 dividend in 2021. What is the amount of dividends received by the common stockholders in 2021? $0 $65,000 $40.000 $25,000
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