Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

$ 5 1 , 5 0 0 in dividends. At year - end 2 0 2 1 , the firm's retained earnings totaled $ 1

$51,500 in dividends. At year-end 2021, the firm's retained earnings totaled $1,054,000. The firm had 130,000 shares of common stock outstanding during 2021.
b. Calculate the firm's 2021 earnings per share (EPS).
c. How large a per-share cash dividend did the firm pay on common stock during 2021?
The cash dividends paid on common stock are: (Round to the nearest dollar.)
Complete the statement of retained earnings for the year ended December 31,2021, for Hayes Enterprises below: (Round to the nearest dollar.)
Hayes Enterprises
Statement of Retained Earnings
for the Year Ended December 31,2021
Retained earnings balance (January 1,2021) $
Plus: Net profits after taxes (for 2021)
Less: Cash dividends (paid during 2021)
Preferred stock
Common stock
Retained earnings (December 31,2021)
b. Calculate the firm's 2021 earnings per share (EPS).
The firm's 2021 earnings per share are ,(Round to the nearest cent.)
c. How large a per-share cash dividend did the firm pay on common stock during 2021?
The cash dividend paid on common stock during 2021 was $.(Round to the nearest cent.)
image text in transcribed

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_2

Step: 3

blur-text-image_3

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

Public Finance and Public Policy

Authors: Jonathan Gruber

4th edition

1429278455, 978-1429278454

More Books

Students also viewed these Finance questions