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Milo. Inc. started the year with three stockholders and $150,000 in total Stockholder's Equity. During...

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Accounting

Milo. Inc. started the year with three stockholders and $150,000 in total Stockholder's Equity. During the year, each shareholder made an additional investment of $10,000 and net income for the year was $20,000. If the company's ending Stockholder's Equity on December 31 is $140,000, how much was paid out in dividends to each individual shareholder?

Select one:

a. $20,000

b. $60,000

c. $13,333

d. $40,000

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