Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the following information for Langs, Inc., calculate per share dividend dollar amount (that is, the dividends per share), rounded to the nearest cent (i.e.,

image text in transcribed

Given the following information for Langs, Inc., calculate per share dividend dollar amount (that is, the dividends per share), rounded to the nearest cent (i.e., $5.21843 = $5.22) that the company paid out in 2020: Retained earnings reported on December 31, 2019 balance sheet: $4,216,800 Retained earnings reported on December 31, 2020 balance sheet: $4,326,800 Net Income reported on December 31, 2019 income statement: $658,700 Net Income reported on December 31, 2020 income statement: $547,900 Number of shares of common stock outstanding at the end of 2019: 206,600 shares Number of shares of common stock outstanding at the end of 2020: 220,000 shares

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_2

Step: 3

blur-text-image_3

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

Measuring ROI In Learning And Development Case Studies From Global Organizations

Authors: Patricia Pulliam Phillips, Jack J. Phillips

1st Edition

1562867997, 9781562867997

More Books

Students also viewed these Accounting questions