Florida Corporation has only one class of stock. There are 200,000 shares outstanding. During 20X1, the corporations
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Florida Corporation has only one class of stock. There are 200,000 shares outstanding. During 20X1, the corporation’s net income after taxes was $800,000. The policy of the corporation is to declare dividends equal to 20 percent of its net income. Black owns 500 shares of the stock. How much will Black receive as a dividend on these shares?
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Related Book For 
College Accounting Chapters 1-30
ISBN: 9781260247909
16th Edition
Authors: David Haddock, John Price, Michael Farina
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