Superior Has Provided the Following Information for Its Recent Year

Superior has provided the following information for its recent year of operation:
The common stock account balance at the beginning of the year was $20,000 and the year-end balance was $25,000.
The additional paid-in capital account balance increased $2,500 during the year.
The retained earnings balance at the beginning of the year was $75,000 and the year-end balance was $91,000.
Net income was $26,000.
How much were Superior's dividend declarations during its recent year of operation?

A) $10,000.
B) $42,000.
C) $26,000.
D) The dividend declarations can't be determined given the above information.

Correct Answer:

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