Sabik Corporation Has Had 7,500 Shares of 6%, $50 Par

question 144

Multiple Choice

Sabik Corporation has had 7,500 shares of 6%, $50 par value, cumulative preferred stock outstanding as well as 28,000 shares of $10 par value common stock outstanding since it was incorporated.) During the first, second, and third years of operations, $15,000, $18,000, and $50,000 in dividends, respectively, was paid. The dividends paid to the common stockholders of Sabik Corporation in year three amounted to:

• A)$27,500.
• B)$0.
• C)$15,500.
• D)an undetermined amount. The common stock dividend cannot be determined from the given information.

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Ambivalent

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A genetic trait that is expressed only when two recessive alleles for the same characteristic are inherited, one from each parent.

Gene

A basic unit of heredity, made up of DNA, that contains the information necessary to build and maintain an organism's cells and pass genetic traits to offspring.

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