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

question 132

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 amount of dividend that will be paid for each share of common stock?

• A)$0.80
• B)$400.00
• C)$4.00
• D)$1.00

---

Definitions:

Arts and Crafts

Creative activities involving the creation of artistic works, using hands-on skills in areas like woodworking, painting, or knitting.

Acceptance

The process of recognizing and welcoming reality as it is, without attempting to change or protest it.

Termination Phase

The final stage in a process, therapy, or relationship, where closure and resolution of goals are sought.

Termination Phase

The final stage in a process, therapy, or sequence where activities are concluded, and the relationship between the involved parties is officially ended.