Homework Answers
Solution:
a. Dividends for 2013 = Retained earnings on Jan 1, 2013 + Net income - Retained earnings on Dec 31, 2013
= $700 + $250 - $890 = $60
b. Dividends for 2014 = Retained earnings on Jan 1, 2014 + Net income - Retained earnings on Dec 31, 2014
= $890 + $225 - $1,045 = $70
c. Dividends for 2015 = Retained earnings on Jan 1, 2015 + Net income - Retained earnings on Dec 31, 2015
= $1,045 + $40 - $1,010 = $75
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