Question

I need help with Requirement 2

Amounts of the assets and liabilities of Mary Burke Realty Company, as of March 31, 2018, are given as follows. Also included are revenue, expense, and selected stockholders' equity figures for the year ended on that date (all amounts in millions): (Click the icon to view the account balances ) Click the icon to view the balance sheet.) Read the requirements Requirement 1. Prepare the income statement of Mary Burke Realty Company for the year ended March 31, 2018 (Enter all amounts in millions. If a box is not used in the income statement leave the box empty, do not select a label or enter a zero i Data Table - X Mary Burke Realty Company Income Statement Year Ended March 31, 2018 (millions) ....$ $ Revenue: Total revenue 135.1 1.4 $ 404 Total revenue............... Receivables. Current liabilities...... Common stock Expenses Salary and other employee expenses Other expenses Interest expense 40.4 Investment assets (long-term) 0.1 Property and equipment, net... 2.7 Other expenses ........ 27.9 Retained earnings, beginning. 0.4 Retained earnings, ending..., 15.2 Cash ........................ 102.3 Other assets long-term) ...... Interest expense Salary and other employee expenses .. 04 Long-term abilities.... Total expenses Print Done Net income (loss) Requirement 2. What amount of dividends did Mary Burke declare during the year ended March 31, 2018? (Hint: Prepare a statement of retained earnings.) (Enter an amount in each input area. Input a "O" for zero balances. Enter amounts in million entering net losses or numbers to be subtracted. Include a subtotal after the "Add" line of the statement) Data Table - X Mary Burke Realty Company Statement of Retained Earnings Year Ended March 31, 2018 millions) Net income for the period Add: Subtotal Less: Mary Burke Realty Company Balance Sheet March 31, 2018 (Millions) Liabilities $ 1.6 Current liabilities Dividends declared Assets Retained Earnings March 31, 2018 Cash 5 Receivables Investment assets Property and equipment, net 0.1 Long-term liabilities 135.1 Total liabilities 2.7 102.3 105.0 14 Other assets 10.3 Stockholders' Equity Common stock 279 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 148.5 S 148.5 Total assets Print Done Choose from any list or enter any number in the input fields and then click Check Answer. nart

Answer 1

Mary Burke Banking Company Statement of Retained Earnings Year Ended March 31, 2018
	(millions)
Retained earnings, Beginning	$17.2
Add: Net income for the year	18.2
	35.4
Less: Dividends	19.8
Retained earnings, Ending	$15.6