FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The charter of a corporation provides for the issuance of 118,000 shares of common stock. Assume that 44,000 shares were originally issued and 3,100 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1-per-share dividend is declared?
a.$44,000
b.$118,000
c.$40,900
d.$3,100
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