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Retained Earnings Were $1,500,000 at the Beginning of the Year

Question 29

Multiple Choice

Retained earnings were $1,500,000 at the beginning of the year and $1,800,000 at the end of the year. Net income for the year was $400,000.The company paid $60,000 in preferred dividends. What did they pay in common share dividends?


A) $60,000
B) $100,000
C) $300,000
D) $40,000

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