Multiple Choice
Denson, Inc. has 10,000 shares of 7%, $100 par value, non-cumulative preferred stock and 40,000 shares of $1 par value common stock outstanding at December 31, 2014. There were no dividends declared in 2013. The board of directors declares and pays a $120,000 dividend in 2014. What is the amount of dividends received by the common stockholders in 2014?
A) $0.
B) $70,000.
C) $120,000.
D) $50,000.
Correct Answer:

Verified
Correct Answer:
Verified
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