Ned Company Reported the Following Information for Its Fiscal Year

question 57

Multiple Choice

Ned Company reported the following information for its fiscal year: $$\begin{array} { | l | r | } \hline \text { Net income } & \$ 500,000 \\\hline \text { Preferred dividends } & 30,000 \\\hline\text { Common share dividends }&\text { 20,000 }\\\hline \text { Preferred shares are cumulative and carry an annual dividend of } & 10,000 \\\hline\end{array}$$ The preferred dividends listed above include the current year and prior accumulated dividends.What is the amount of net income available to common shareholders?

• A)$440,000
• B)$450,000
• C)$470,000
• D)$490,000

---

Definitions:

Ju/'hoansi

Refers to a hunter-gatherer people living in the Kalahari Desert of southern Africa, known for their rich cultural heritage and foraging lifestyle.

Holy Men

Individuals regarded as deeply spiritual or divinely inspired, often venerated within religious communities for their wisdom, miracles, or connection to the divine.

India

A country in South Asia, known for its diverse terrain – from Himalayan peaks to Indian Ocean coastline – and history reaching back 5 millennia.

Meditation

A practice where an individual uses a technique, such as mindfulness or focusing the mind on a particular object, thought, or activity, to train attention and awareness, and achieve a mentally clear and emotionally calm state.