Use the following information to answer the given question.
(begin{array}{c|c} text{Net profit for the year} & N75.000\ text{Ordinary share capital of 50 kobo each} & N65,000\ text{10% Preference shares of 50 kobo each} & N100,000end{array})
The amount available as dividend to ordinary shareholders is
(begin{array}{c|c} text{Net profit for the year} & N75.000\ text{Ordinary share capital of 50 kobo each} & N65,000\ text{10% Preference shares of 50 kobo each} & N100,000end{array})
The amount available as dividend to ordinary shareholders is
-
A.
N75,000 -
B.
N65,000 -
C.
N55,000 -
D.
N52,500