• 2022-05-31
    During the current year, the total assets of Mifflinburg Corporation decreased by $60,000 and totalliabilities decreased by $300,000. The company issued $100,000 of new stock, and its net incomefor the year was $250,000. No other changes to stockholders’ equity occurred during the year.The dollar amount of dividends declared by the company during the year is
    A: $100,000.
    B: $200,000.
    C: $110,000.
    D: $250,000.