ANS: C SHOW YOUR WORK

Venco Corporation's December 31, 2017 statement of financial position showed the following: Share capitalpreference 6%, 20 par value, cumulative, 10,000 shares authorized; 7,500 shares issued 150,000 Share capital-ordinary, 10 par value, 1,000,000 shares authorized; 975,000 shares issued, 960,000 shares outstanding 9,750,000 Share premium-preference 30,000 Share premium-ordinary 13,500,000 Retained earnings 3,750,000 Treasury shares (15,000 shares) 315,000 Venco declared and paid a 45,000 cash dividend on December 15, 2017. If the company's dividends in arrears prior to that date were 9,000, Venco's ordinary shareholders received a. 36,000. b. 18,000. C. 27,000. d. no dividend