Occidental Produce Company Has 40,000 Shares of Common Stock Outstanding

question 28

Multiple Choice

Occidental Produce Company has 40,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock is $0.01 par value; the preferred stock is 4% noncumulative, with $100 par value. On October 15, 2015, the company declares a total dividend payment of $40,000. What is the total amount of dividends that will be paid to the common shareholders?

• A)$40,000
• B)$32,000
• C)$400
• D)$4,500

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Definitions:

Clinical Instructor

A healthcare professional who imparts practical training to students in a clinical setting, overseeing their application of theoretical knowledge to real-life medical scenarios.

Implied Consent

Permission that is assumed in an emergency when consent cannot be obtained from the client or a relative.

Emergency Department

A specialized department in a hospital where patients with acute illnesses or injuries are treated.

Drug Overdose

The ingestion or application of a drug in quantities greater than are recommended or generally practiced, leading potentially to a toxic state or death.