Question
A company paid out $30 million in dividends and reported $300 million of retained earnings in 2015. The retained earnings in 2014 was $230 million.
A company paid out $30 million in dividends and reported $300 million of retained earnings in 2015. The retained earnings in 2014 was $230 million. What was the net income of this company in 2015? $120 million $100 million $75 million $118 million None of the answers given is correct
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Behavioral Finance
Authors: Edwin Burton, Sunit N. Shah
1st Edition
111830019X, 978-1118300190
