Looper, Inc

Multiple Choice

Looper, Inc. has 25,000 shares of 6%, $100 par value, noncumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2010. There were no dividends declared in 2009. The board of directors declares and pays a $250,000 dividend in 2010. What is the amount of dividends received by the common stockholders in 2010?

A) $0
B) $150,000
C) $250,000
D) $100,000