Looper, Inc

Multiple Choice

Looper, Inc.has 25,000 shares of 6%, ₤100 par value, noncumulative preference shares and 50,000 ordinary shares with a ₤1 par value outstanding at December 31, 2011.There were no dividends declared in 2010.The board of directors declares and pays a ₤250,000 dividend in 2011.What is the amount of dividends received by the common shareholders in 2011?

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