The year-end 2017 balance sheet for Brad’s Copy, Inc. lists common stock ($1.20 par value) at...
The year-end 2017 balance sheet for Brad’s Copy, Inc. lists common stock ($1.20 par value) at $7,620,000 capital surplus at $86,543,000 and retained earnings at $218,546,000. On the 2016 year-end balance sheet, retained earnings is listed as $214,368,000. The firm’s net income in 2017 was $12,500,000. No stock was issued or repurchased in 2017. What were dividends per share paid by the firm in 2017 (rounded to the nearest cent)?
Homework Answers
Answer- The dividends per share paid by the firm in 2017 were = $2.63 per share.
Explanation- Dividends per share = Dividends paid/No. of shares
= $16678000/6350000 shares
= $2.63 per share
Closing retained earnings = Opening retained earnings+ Net income- Dividends paid
$214368000= $218546000+$12500000-Dividends paid
Dividends paid = $218546000+$12500000-$214368000
= $16678000
Number of shares = $7620000/$1.20 per share
= 6350000 shares
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The year-end 2017 balance sheet for Brad’s Copy, Inc. lists
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Please how to get the answer
and explain the steps to get the correct answer listed at the
bottom in parenthesis
Question 12 0/7 points The year-end 2016 balance sheet for Tom's Copy, Inc. lists common stock ($1.00 par value) of 5,181, capital surplus of $ 15,592 and retained earnings of $ 48,710. On the 2017 year-end balance sheet, retained earnings are listed as $50,531. The firm's net income in 2017 was $ 6,174.No stock was issued or repurchased in...
Can you confirm my answers please?
16. The year-end 2018 balance sheet for Brad's Copy, Inc. lists common stock (S1.25 par value) at $7,626,000 capital surplus at $86,543,126 and retained earnings at $218,546,280. On the 2017 year-end balance sheet, retained earnings are listed as $214,368,950. The firm's net income in 2018 was S12,659,120. No stock was issued or repurchased in 2018. What were dividends per share paid by the firm in 2018? 1.39 17. The Lunder Company has total assets...
Please how to get the answer
and explain the steps to get the correct answer listed at the
bottom in parenthesis
Question 11 0/7 points1.0 The year-end 2016 balance sheet for Tom's Copy, Inc. lists common stock ($1.00 par value) of $19,290, capital surplus of$ 28,691 and retained earnings of $ 47,119.On the 2017 year-end balance sheet, retained earnings are listed as $ 50,367. The firm's net income in 2017 was $6,080 . No stock was issued or repurchased in...
The equity sections from Edmunds
Group’s 2016 and 2017 year-end balance sheets follow.
Stockholders’ Equity (December 31, 2016)
Common stock—$4 par value, 150,000 shares
authorized, 60,000 shares issued and outstanding
$
240,000
Paid-in capital in excess of par value, common stock
36,000
Retained earnings
200,000
Total stockholders’ equity
$
476,000
Stockholders’ Equity (December 31, 2017)
Common stock—$4 par value, 150,000 shares
authorized, 69,810 shares issued, 5,500 shares in treasury
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