Answered step by step
Verified Expert Solution
Link Copied!

Question

00
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 $1.9

image text in transcribedimage 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 $1.9 billion and net income of $4.3 billion. 2. Pepsico reports an increase in retained earnings of $2.1 billion and dividends of $1.3 billion. 3. Google reports an increase in retained earnings of $1.47 billion and net income of $1.47 billion. 4. Sirius Satellite Radio reports beginning retained earnings of $1.86 billion, net loss of $0.87 billion, and $0 dividends. 5. Abercrombie & Fitch reports ending retained earnings of $1.62 billion, net income of $0.30 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? Dividends billion 2. What is the amount of net income of Pepsico? Net income billion 3. What is the amount of dividends of Google? Dividends : billion 4. What is the amount of ending retained earnings of Sirius Satellite Radio? Ending retained earnings billion 5. What is the amount of beginning retained earnings of Abercrombie & Fitch? 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

Fundamentals of Financial Management

Authors: Eugene F. Brigham

Concise 9th Edition

978-1305635937

Students also viewed these Accounting questions