From Its Inception Through the Year of 2016,Quicksales,Inc

question 203

Multiple Choice

From its inception through the year of 2016,Quicksales,Inc.was profitable and made strong dividend payments each year.In the year 2017,Quicksales had major losses and paid no dividends.In 2018,the company started making large profits again,and they were able to pay dividends to all shareholders-both common and preferred.There are 2,100 shares of cumulative,12% preferred stock outstanding.The preferred stock has a par value of $100.What is the total amount of dividends that should be paid to the preferred stockholders in December,2018?

• A)$75,600
• B)$88
• C)$25,200
• D)$50,400

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Definitions:

Cell Metabolism

The intricate set of life-sustaining chemical transformations within the cells of living organisms, involving energy production and the synthesis of necessary compounds.

Tubular Secretion

The process in the nephron where substances are added from the blood into the filtrate for elimination from the body.

Pressure Filtration

A process where solid particles are separated from liquids through the application of pressure, forcing the liquid through a semipermeable barrier.

Distal Convoluted Tubules

A portion of the kidney nephron that lies between the loop of Henle and the collecting ducts, involved in the reabsorption of water, sodium, and glucose.