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Compute the missing amounts (in millions) in the following table. (The balance in retained earnings at year-end 2012 was $2.2.) comment on the firm's performance
Compute the missing amounts (in millions) in the following table. (The balance in retained earnings at year-end 2012 was $2.2.) comment on the firm's performance over the three-year period after calculating the level of expenses as a percentage of total revenues and net income as a percentage of total revenues. What advice would you give to this company inregards to its dividends policy?
2010 2011 2012
Retained earnings (beginning) $1.2 2.0 ?
Revenues 8.8 11.8 11.8
Expenses 7.4 ? 11.0
Dividends ? .6 .6
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