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

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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