The correct option Given information: Payment for the retirement of long term bonds payable is $750,000 Distribution in year 1 of cash dividend declare in year 0 to prefer shareholders is $62,000. Carrying value of convertible preferred stock of Brianna converted into common shares is $120,000. Proceeds from sale of treasury stock (carrying value $86,000) is $95,000.

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Chapter 22, Problem 22.7MC

To determine

To identify: The correct option

Given information:

Payment for the retirement of long term bonds payable is $750,000

Distribution in year 1 of cash dividend declare in year 0 to prefer shareholders is $62,000.

Carrying value of convertible preferred stock of Brianna converted into common shares is $120,000.

Proceeds from sale of treasury stock (carrying value $86,000) is $95,000.

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