Mass merchandisers are usually high-markup, lower-volume stores

The matching principle states that ________

A) financial statements can be prepared for specific periods B) a business's activities can be sliced into small time segments C) all expenses should be recorded when they are incurred during the period D) companies should record revenue when it has been earned

Saturn Corporation has 13,000 shares of 14%, $84 par noncumulative preferred stock outstanding and 20,000 shares of no-par common stock outstanding

At the end of the current year, the corporation declares a dividend of $180,000. How is the dividend allocated between preferred and common stockholders? A) The dividend is allocated $8,107 to preferred stockholders and $109,091 to common stockholders. B) The dividend is allocated $152,880 to preferred stockholders and $27,120 to common stockholders. C) The dividend is allocated $70,909 to preferred stockholders and $109,091 to common stockholders. D) The dividend is allocated $235,200 to preferred stockholders and $55,200 to common stockholders.