For the Year Just Ended, a Company Reports Net Income

question 57

Multiple Choice

For the year just ended, a company reports net income of $3,200,000. There are 750,000 shares authorized, 600,000 shares issued and 500,000 shares of common stock outstanding. The company has no preferred stock. If the board of directors declares a $1 per share dividends, the total amount of dividends paid is:

• A)$750,000.
• B)$600,000
• C)$500,000.
• D)$250,000.

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