### How much is the liquidating dividend

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##### Reference no: EM13153081

On January 1, 2010, the board of directors of Goby Inc. declared a \$540,000 dividend. The following data are from the balance sheet of Goby on that date:

Common stock \$500,000
Paid-in capital - excess of par \$300,000
Retained earnings \$400,000
Paid-in capital from sale of treasury stock \$ 50,000

How much is the liquidating dividend?

A) \$140,000

B) \$240,000

C) \$290,000

D) None of the above is correct.

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