The board of directors declares and pays a 60000 dividend

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Dabney, Inc., has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 40,000 shares of $1 par value common stock outstanding at December 31, 2014. There were no dividends declared in 2013. The board of directors declares and pays a $60,000 dividend in 2014. What is the amount of dividends received by the common stockholders in 2014?

A) $0

B) $25,000

C) $10,000

D) $35,000

Reference no: EM13388465

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