Use the information below to answer questions

Turnover...........................N120 000

Net profit before tax..............N40 000

Net profit b/f.....................N68 000

Proposed dividends:

Ordinary shares....................N8 000

Preference shares..................N6 000

Corporate tax is 30%...............N10 000

The undistributed profit carried forward is?

• A N 68 000
• B N 20 000
• C N 74 000
• D N 34 000