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Racer Corporation's December 31, 2014 Balance Sheet Showed the Following

Question 141

Multiple Choice

Racer Corporation's December 31, 2014 balance sheet showed the following: Racer Corporation's December 31, 2014 balance sheet showed the following: Racer declared and paid a $100,000 cash dividend on December 15, 2014. If the company's dividends in arrears prior to that date were $24,000, Racer's common stockholders received A) $76,000. B) $36,000. C) $44,000. D) no dividend. Racer declared and paid a $100,000 cash dividend on December 15, 2014. If the company's dividends in arrears prior to that date were $24,000, Racer's common stockholders received


A) $76,000.
B) $36,000.
C) $44,000.
D) no dividend.

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