Question

Requirement 2.  What amount of dividends did Donna O'Dell declare during the year ended July ​31, 2018​? ​(Hint: Prepare a statement of retained​ earnings.) ​(Enter an amount in each input area. Input a​ "0" for zero balances. Enter amounts in millions. Use a minus sign or parentheses when entering net losses or numbers to be subtracted. Include a subtotal after the​ "Add" line of the​ statement.)

omework: veek 1: HomeworK 2 of 5 (2 complete)> core: 4.15 of 8 pts HW Score: 19.59%, 8.81 of 4 E1-26A (similar to) Question Help Amounts of the assets and llabillties of Donna O'Dell Realty Company, as of July 31, 2018, are gven as follows. Also indluded are revenue, expense, and selected stockholders' equity figures for the year ended on that date (all amounts in millions): 囲(Click the icon to view the account balances.) Read the requlrements, 囲 Click the icon to view the balance sheet.) 5.9 Other expenses 0.2 Interest expense 19.6 Total expenses 6.1 Net income (loss) Requirement 2. What amount of dividenids did Donnna O'Dell declare during the year ended July 31, 2018 (: Prepare a statement of retained earnings.) (Enter an amount in each input area. Inputa o" for zero balances. Enter amounts millions. Use a minus sign or parentheses when entering net losses or numbers to be subtracted. Include a subtotal after the "Add" line of the statement.) Donna O'Dell Realty Company Statement of Retained Earnings July 31, 2018 iData Table (millions Total revenue. Receivables. Current llablilitles Common stock S 25.7 Investment assets (long-term) 77.7 Retained Earnings, July 31, 2015 Add: Net income for the period Subtotal Less: Dividends declared Retained Earnings, July 31, 2018 7.9 0.4 Property and equipment, net 2.6 Other expenses 5.2 Ratained earnings, baginning 0.2 Retained earnings, ending... . 13.5 Cash 5.9 7.9 57.9 10.4 Interest expense Salary and other emplayee expenses Long-tem liabilities 102.4 Other assets (long-term) hoose from any list or enter any number in the input fields and then click Check Answer. PrintDone ck Answer remaining

Answer 1

Solution:

Donna O'Dell Realty Company
Statement of retained earnings
31-Jul-18
Particulars	(Millions)
Retained earnings, beginning	$2.60
Add: Net income for the period	$6.10
Subtotal	$8.70
Less: Dividend declared (Bal fig)	-$0.80
Retained earnings, July 31, 2018	$7.90