Question
On 12/31/2020, Heaton Industries Inc. reported retained earnings of $475,000 on its balance sheet, and it reported that it had $172,500 of net income during
On 12/31/2020, Heaton Industries Inc. reported retained earnings of $475,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/2019, the company had reported $555,000 of retained earnings. No shares were repurchased during 2020. How much in dividends did Heaton pay during 2020?
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
1st Extended Canadian Edition
1118878418, 9781118878415
