Business, 01.10.2019 04:10 smithsa10630

Racer corporation's december 31, 2014 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative,40,000 shares authorized; 20,000 shares issued $ 400,000common stock, $10 par value, 4,000,000 shares authorized; 2,600,000 shares issued, 2,560,000 shares outstanding 26,000,000paid-in capital in excess of par value - preferred stock 80,000paid-in capital in excess of par value - common stock 36,000,000retained earnings 10,200,000treasury stock (30,000 shares) 840,000racer declared and paid a $100,000 cash dividend on december 15, 2014. if the company's dividends in arrears prior to that date were $24,000, racer's common stockholders receiveda. $76,000.b. $36,000.c. $44,000.d. no dividend.

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Racer corporation's december 31, 2014 balance sheet showed the following: 8% preferred stock, $20 pa...

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