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  3. written, inc. has outstanding 300,000 shares of $2

Written, Inc. has outstanding 300,000 shares of $2 par ordinary shares and 60,000 shares of...

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Accounting

Written, Inc. has outstanding 300,000 shares of $2 par ordinary shares and 60,000 shares of no-par 8% preference shares with a stated value of $5. The preference shares are cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year. Assuming that $183,000 will be distributed, and the preference shares are fully participating, how much will the ordinary shareholders receive if the matching dividend for ordinary shares is $0.25 per share? The participation is based on relative number of shares outstanding.

A. $105,000.

B. $90,000.

C. $93,000.

D. $78,000.

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