Use the Following Information to Find Dividends Paid to Common

question 110

Multiple Choice

Use the following information to find dividends paid to common stockholders during 2018.
$$\begin{array}{l}\begin{array} { l l } \text {Balance of Retained Earnings, December 31,2017 }&\$52m\\\text { Plus: Net Ircome for 2018}&\$52m\\\text {Less: Cash Dividends Paid }\\\text {Preferred Stock }&\$7m\\\text {Cormmon Stock }&?m\\\text {Total Cash Dividends Paid }&?m\\\text {Balance of Retained Earnings, Decernber 31, 2018 }&\$56m\\\end{array}\end{array}$$

• A) $3 million
• B) $4 million
• C) $10 million
• D) $17 million

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