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

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 24E

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