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On June 1, 2019. Smithson, Inc. paid a common stock dividend of $0.14 per share and on December 1, 2019, Smithson paid a common stock
On June 1, 2019. Smithson, Inc. paid a common stock dividend of $0.14 per share and on December 1, 2019, Smithson paid a common stock dividend of $0.17 per share. These were the only dividend payments made in 2019. On its December 31, 2018 balance sheet, Smithson, Inc. reported common stock ($2 par value) of $409,000,000, additional paid in capital of $4,350,000, and retained earnings of $13,900,000. On its December 31, 2019 balance sheet, Smithson, Inc. reported common stock ($2 par value) of $409,000,000, additional paid in capital of $4,350,000 and retained earnings of $15,000,000. Given this information, what did Smithson, Inc. report as net income on its 2019 income statement? Dacaba SI
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