Use the Following Information for Questions 70-72

question 115

Multiple Choice

Use the following information for questions 70-72.
Riga Ltd. has outstanding 100,000 no par common shares and 20,000 no par, $ 0.40, preferred shares issued at $ 5 each. The preferred shares are cumulative and non-participating. Dividends have been paid every year except the past two years and the current year.
-The Common Shares account currently shows a balance of $ 200,000. Assuming that $ 61,000 will be distributed as a dividend in the current year, and the preferred shares are also fully participating, how much will the common shareholders receive?

• A) $ 37,000
• B) $ 30,000
• C) $ 31,000
• D) $ 16,000

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