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Financial Statement Relations to Compute Dividends Colgate-Palmolive Company reports the following balances in its retained earnings. ($ millions)20132012Retained earnings$17,952$16,953 During 2013, Colgate-Palmolive reported net income

Financial Statement Relations to Compute Dividends

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

($ millions)20132012Retained 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?

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