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6. Using the financial statements below, determine how much FIN 317 Corp. paid its shareholders in dividends during the year 2011. FIN 317 Corp. Balance
6. Using the financial statements below, determine how much FIN 317 Corp. paid its shareholders in dividends during the year 2011. FIN 317 Corp. Balance Sheets (in millions) 2010 2011 2010 2011 Cash 725 1,135 Current Liabilities 3,479 1,031 A/R 2,330 2,300 Inventory 3,240 5,202 Long-term debt 6,250 9,750 Fixed Assets 11,181 12,291 Accumulated Depreciation 5,000 7,100 Common Stock 250 250 Net Fixed Assets 6,181 5,191 Retained Earnings 2,497 2,797 Total Liabilities and Total Assets 12,476 13,828 Equity 12,476 13,828 FIN 317 Corp. 2011 Income Statement (in millions) Sales 8,905 Costs (excl. Dep.) 5,005 Depreciation 2,100 EBIT 1,800 Interest 675 EBT 1,125 Taxes 400 Net Income 725 a. $250 b. $300 c. $425 d. $725 e. $750
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