Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Old MathJax webview Oglethorpe Company reports the following information from the vertical analysis of its income statement Net income: 4.2% in 2021 3.9% in 2020
Old MathJax webview
Oglethorpe Company reports the following information from the vertical analysis of its income statement Net income: 4.2% in 2021 3.9% in 2020 Which of the following statements could be logically concluded from the above data? OA. The company has improved the profit it makes per dollar of sales in 2021. OB. The company made higher net income in 2021 than in 2020. O C. The company made a higher gross profit in 2021 than in 2020. OD. The company's total net income increased by 0.3% in 2021. The beginning and ending balances of retained earnings for JAK Corporation are $185.000 and 5255,000 respectively. The income statement reported net income of $105.000. The beginning and ending balances of dividends payable was zero. How much dividends were paid during the year? O A $140 000 OB. $105.000 C. $0 CD. $35.000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started