Use the Following Information for Questions

question 47

Multiple Choice

Use the following information for questions.
Financial statements for Bernard Corp. are presented below: BERNARD CORP. Total assets on the December 31, 2020 statement of financial position were $ 1,108,000. Accumulated depreciation on the equipment sold was $ 56,000.
-Ophelia Ltd. reported retained earnings at December 31, 2019 of $ 270,000, and at December 31, 2020, $ 218,000. Net income for calendar 2020 was $ 187,500. During 2020, a stock dividend was declared and distributed, which increased the common shares account by $ 116,500. As well, a cash dividend was declared and paid during the year. The amount of the cash dividend declared and paid was

• A) $ 93,000.
• B) $ 123,000.
• C) $ 164,500.
• D) $ 239,500.