Anders, Inc Has 5,000 Shares of 6%, €100 Par Value

Multiple Choice

Anders, Inc has 5,000 shares of 6%, €100 par value, cumulative preference shares and 20,000 ordinary shares with a $1 par value outstanding at December 31, 2014. There were no dividends declared in 2012. The board of directors declares and pays a €55,000 dividend in 2013 and in 2014. What is the amount of dividends received by the ordinary shareholders in 2014?

A) €20,000
B) €30,000
C) €55,000
D) €0