Question
Frey & Felder has sales in excess of $83 billion and sells products that are part of most of our daily lives. A recent annual
Frey & Felder has sales in excess of $83 billion and sells products that are part of most of our daily lives. A recent annual report for F&F contained the following information: Retained earnings at the end of 2013 totaled $81,997 million. Net income for 2014 was $12,543 million. Par value of the stock is $1 per share. Cash dividends declared in 2014 were $7,030 million. The Common Stock account totaled $4,189 million at the end of 2014 and $4,189 million at the end of 2013. 2. Estimate the amount of retained earnings at the end of 2014. (Enter your answer in whole dollars not in millions (i.e., 1,000,000 not 1.0).)
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