Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For the year, Peggy Grey's Cookies had net income of $81,100. The firm paid out 30 percent of the net income to its shareholders as

For the year, Peggy Grey's Cookies had net income of $81,100. The firm paid out 30 percent of the net income to its shareholders as dividends and also paid $21,000 in interest. At the beginning of the year shareholders equity was $1,000,000 and at the end of the year it was 1,051,770. What is the cash flow to stockholders?

Group of answer choices

$19,330.

$5,000.

$29,330.

$24,330.

$28,930.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Factory Business System Audit Lean Manufacturing

Authors: Rolf Thorsten

1st Edition

1091908583, 978-1091908581

More Books

Students also viewed these Accounting questions