ques 9

20122017 Contributed capital Preferred shares, $6,5,000 shares issued and outstanding 500,000$500,000 Common shares, 10,000 shares issued and outstanding 500,000400,000 Total contributed capital 1,000,000900,000 Retained earnings 200,000100,000 Total shareholders' equity $1,200,000$1,000,000 Note: The preferred shares are noncumulative, and no dividend was declared during 2020. Assume in 2020, Borland Ltd. declared and paid total cash dividends of $40,000. How much dividends did common shareholders receive? Cannot be determined based on the information provided. $40,000 $10,000 $30,000