Multiple Choice
Colson Inc. declared a $160,000 cash dividend. It currently has 6,000 shares of 6%, $100 par value cumulative preference share outstanding. It is one year in arrears on its preference stock. How much cash will Colson distribute to the ordinary shareholders?
A) $88,000.
B) $72,000.
C) $124,000.
D) None.
Correct Answer:
Verified
Correct Answer:
Verified
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