Nance Corporation's December 31, 2020 balance sheet showed the following: 
Nance declared and paid a $85,000 cash dividend on December 15, 2020.If the company's dividends in arrears prior to that date were $24,000, Nance's common stockholders received
A) $61,000.
B) $48,000.
C) $37,000.
D) no dividend.
Correct Answer:
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