Anders, Inc Has 5,000 Shares of 5%, €100 Par Value

Multiple Choice

Anders, Inc has 5,000 shares of 5%, €100 par value, cumulative preference shares and 20,000 ordinary shares with a $1 par value outstanding at December 31, 2011.There were no dividends declared in 2009.The board of directors declares and pays a €45,000 dividend in 2010 and in 2011.What is the amount of dividends received by the ordinary shareholders in 2011?

A) €15,000
B) €25,000
C) €45,000
D) €0