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Question
Racer Corporation’s December 31, 2012 balance sheet showed the following:
Racer declared and paid a $75,000 cash dividend on December 15, 2012. If the company’s dividends in arrears prior to that date were $18,000, Racer’s common stockholders received
a.$57,000
b.$27,000
c.$33,000
d.no dividend
Answer
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