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.