Total cash dividendsof 8000 were declared and paid

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At the end of 1999, the total assets of Dole Corp were$90,000 and total liabilities were $50,000. The company hasbeen in business five years and has earned an average net income of$4,000 per year during the five years. Total cash dividendsof $8,000 were declared and paid. Therefore, the total amount received for the capital stock issued by the company was:

a. $28,000

b. $30,000

c. $40,000

d. $46,000

Reference no: EM13482380

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