Ocean view Wholesale Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2014. Assuming that the total dividends declared in 2014 was $190,000 and that the cumulative preferred stock received dividends in the following manner: In full up to 2010, $18,000 in 2011, $4,000 in 2012, and $15,000 in 2013; common stockholders should receive total 2014 dividends of:
Restrictions of retained earnings may result from each of the following except:
contractual restrictions.
legal restrictions.
prior period adjustment restrictions.
voluntary restrictions.