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Question
Nance Corporation’s December 31, 2012 balance sheet showed the following:
Nance declared and paid a $50,000 cash dividend on December 15, 2012. If the company’s dividends in arrears prior to that date were $12,000, Triad’s common stockholders received
a.$38,000
b.$18,000
c.$22,000
d.no dividend
Answer
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