Hayes Enterprises began 2015 with a retained earnings balance of $1,151,000. During 2015, the firm earned $528,000
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Hayes Enterprises began 2015 with a retained earnings balance of $1,151,000. During 2015, the firm earned $528,000 after taxes. From this amount, preferred stockholders were paid $98,000 in dividends. At yearend 2015, the firm’s retained earnings totaled $1,324,000. The firm had 100,000 shares of common stock outstanding during 2015.
a. Prepare a statement of retained earnings for the year ended December 31, 2015, for Hayes Enterprises.
b. Calculate the firm’s 2015 earnings per share (EPS).
c. How large a per-share cash dividend did the firm pay on common stock during 2015?
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Related Book For 
Principles Of Managerial Finance
ISBN: 9781292018201
14th Global Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
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