Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Below are approximate amounts related to retained earnings reported by five companies in previous years. 1. Coca-Cola reports an increase in retained earnings of

image text in transcribed

Below are approximate amounts related to retained earnings reported by five companies in previous years. 1. Coca-Cola reports an increase in retained earnings of $3.2 billion and net income of $6.9 billion. 2. PepsiCo reports an increase in retained earnings of $3.4 billion and dividends of $2.6 billion. 3. Alphabet reports an increase in retained earnings of $1.6 billion and net income of $1.6 billion. 4. Sirius XM Satellite Radio reports beginning retained earnings of -$1.6 billion, net loss of $1.0 billion, and $0 dividends. 5. Abercrombie & Fitch reports ending retained earnings of $1.56 billion, net income of $0.43 billion, and dividends of $0.06 billion. (Enter your answers in billions rounded to 2 decimal places. Negative amounts should be indicated by a minus sign.) Required: 1. What is the amount of dividends of Coca-Cola? 2. What is the amount of net income of PepsiCo? 3. What is the amount of dividends of Alphabet? 4. What is the amount of ending retained earnings of Sirius XM Satellite Radio? 5. What is the amount of beginning retained earnings of Abercrombie & Fitch? 1. Dividends 2. Net income 3. Dividends billion billion billion 4. Ending Retained Earnings billion 5. Beginning Retained Earnings billion

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial Accounting

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

3rd edition

978-0078025549

Students also viewed these Accounting questions

Question

If forecasting is going to be imperfect, why bother with it?

Answered: 1 week ago

Question

Is a 15% accounting rate of return for a machine a good rate?

Answered: 1 week ago