Ned Company Reported the Following Information for Its Fiscal Year

question 74

Multiple Choice

Ned Company reported the following information for its fiscal year: Net income
$500,000
Preferred dividends
30,000
Common share dividends
20,000
Preferred shares are cumulative and carry an annual dividend of
10,000
The preferred dividends listed above include the current year and prior accumulated dividends. What is the amount of net income available to common shareholders?

• A)$440,000
• B)$450,000
• C)$470,000
• D)$490,000

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Definitions:

Fraternity Pin

A symbolic badge or pin worn by members of a fraternity that represents their membership and the values of the organization.

Aggregation

The process of combining multiple items or data points into a single group or category for analysis or reporting purposes.

Acculturation

The process of cultural change and psychological adjustment that occurs when individuals from different cultures come into prolonged contact.

Profane Consumption

The use or purchase of products or services in a manner that is considered disrespectful to cultural, religious, or moral norms.