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On January 2, 2011 the Board of Directors of Gimli

question 28

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On January 2, 2011 the board of directors of Gimli Mining Corporation declared a cash dividend of $1,200,000 to stockholders of record on January 18, 2011, and payable on February 10, 2011. The dividend is permissible by law in Gimli's state of incorporation. Selected data from Gimli's December 31, 2010, balance sheet follow:
On January 2, 2011 the board of directors of Gimli Mining Corporation declared a cash dividend of $1,200,000 to stockholders of record on January 18, 2011, and payable on February 10, 2011. The dividend is permissible by law in Gimli's state of incorporation. Selected data from Gimli's December 31, 2010, balance sheet follow:   The $1,200,000 dividend includes a liquidating dividend of A)  $800,000. B)  $700,000. C)  $600,000. D)  $200,000.
The $1,200,000 dividend includes a liquidating dividend of


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