Vega Corporation's December 31, 2015 balance sheet showed the following: 8% preferred...
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Accounting
Vega Corporation's December 31, 2015 balance sheet showed the following:
8% preferred stock, $20 par value, cumulative, 10,000 shares
authorized; 7,500 shares issued
$ 150,000
Common stock, $10 par value, 1,000,000 shares authorized;
975,000 shares issued, 960,000 shares outstanding
9,750,000
Paid-in capital in excess of parpreferred stock
30,000
Paid-in capital in excess of parcommon stock
13,500,000
Retained earnings
3,750,000
Treasury stock (15,000 shares)
315,000
Vega declared and paid a $58,000 cash dividend on December 15, 2015. If the company's dividends in arrears prior to that date were $10,000, Vega's common stockholders received
A.
$48,000.
B.
$36,000.
C.
$22,000.
D.
no dividend.
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