Applying Financial Statement Relations to Compute Dividends

Assume Colgate-Palmolive reports the following dollar balances in its retained earnings account.

($ millions)20152014Retained earnings$19,638$19,165

During 2015, Colgate-Palmolive reported net income of $2,239 million.

a. What amount of dividends, if any, did Colgate-Palmolive pay to its stockholders in 2015?

$Answer

million

b. What percent of its net income did Colgate-Palmolive pay out as dividends in 2015?

Round to the nearest whole percentage.

Answer

%