Financial Statement Relations to Compute Dividends

Colgate-Palmolive Company reports the following balances in its retained earnings.

($ millions)	2013	2012
Retained earnings	$17,952	$16,953

During 2013, Colgate-Palmolive reported net income of $2,410 million.

a. Assume that the only changes affecting retained earnings were net income and dividends. What amount of dividends did Colgate-Palmolive pay to its shareholders in 2013? $------million b. This dividend amount constituted what percent of its net income? (Round your answer to one decimal place.)

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