Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

25. Given the following information for Langs, Inc., calculate per share dividend dollar amount (that is, the dividends per share), rounded to the nearest

image text in transcribed

25. Given the following information for Langs, Inc., calculate per share dividend dollar amount (that is, the dividends per share), rounded to the nearest cent (i.e., $5.21843 = $5.22) that the company paid out in 2021: Retained earnings reported on December 31, 2020 balance sheet = $4,816,200; Net Income reported on December 31, 2020 income statement = $658,700; Number of shares of common stock outstanding at the end of 2020: 206,600 shares Retained earnings reported on December 31, 2021 balance sheet: $5,326,800; Net Income reported on December 31, 2021 income statement: $747,900; Number of shares of common stock outstanding at the end of 2021: 220,000 shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,

10th Canadian Edition, Volume 1

978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736

More Books

Students also viewed these Accounting questions

Question

=+ Identify the ethical dilemma in this scenario.

Answered: 1 week ago