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Determine what was the net income for the year

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Reference no: EM132603352

Question 1: Washington Company had 100,000 common shares and 20,000 preferred shares at the end of the year just completed. Preferred shareholders received total dividends of $140,000. Common shareholders received total dividends of $210,000. If the dividend payout ratio for the year was 70%, what was the net income for the year?

A) $147,000.

B) $287,000.

C) $300,000.

D) $440,000.

Reference no: EM132603352

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