Use the Following Information for Questions

question 58

Multiple Choice

Use the following information for questions
Harbour Co. has $200,000 of no par value 4% cumulative preferred shares, and 12,000 shares of no par value common shares outstanding. In its first three years of operation, the company paid cash dividends as follows: Year 1: $8,000; Year 2: $18,000; and Year 3: $24,000.
-The amount of dividends received by the common shareholders in year 3 was:

• A)$8,000
• B)$12,000
• C)$16,000
• D)$20,000

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Definitions:

Southern Demand

Refers to the economic and political requests or needs emanating from the southern states of the United States, historically often related to agricultural interests and states' rights.

Slavery Expansion

The historical growth or spread of slavery, especially in the United States pre-Civil War, often a contentious issue between states.

Senate

A legislative body in various political systems, often the upper house in a bicameral legislature, responsible for making laws, decisions, and usually representing territorial entities.

Republicanism

A political ideology centered on citizenship in a state organized as a republic under which the people hold popular sovereignty.