Looper, Inc

Multiple Choice

Looper, Inc. has 25,000 shares of 6%, ₤100 par value, noncumulative preference shares and 50,000 ordinary shares with a ₤1 par value outstanding at December 31, 2014. There were no dividends declared in 2013. The board of directors declares and pays a ₤350,000 dividend in 2014. What is the amount of dividends received by the common shareholders in 2014?

A) ₤0
B) ₤150,000
C) ₤350,000
D) ₤200,000