Vortex Corp. has 250,000 shares of common stock authorized. It has issued 85,000 shares and has reacquired 9,000 of these shares as treasury stock. Vortex subsequently declared a cash dividend of $6 per share.Required:What is the total amount of dividends that were declared?
What will be an ideal response?
| Shares issued | 85,000 |
| Treasury stock | (9,000) |
| Shares outstanding | 76,000 |
| ? | × $6 |
| Total dividend | $456,000 |
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