Looper, Inc

question 136

Multiple Choice

Looper, Inc. has 30,000 shares of 6%, ₤100 par value, noncumulative preference shares and 50,000 ordinary shares with a ₤1 par value outstanding at December 31, 2017. There were no dividends declared in 2016. The board of directors declares and pays a ₤250,000 dividend in 2017. What is the amount of dividends received by the common shareholders in 2017?

• A)₤0
• B)₤180,000
• C)₤250,000
• D)₤70,000