Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On Sept 30th, the Disney Corp had a Retained Earnings balance of $8,241 million.One year later it had jumped to $9,021million.They sold no stock during
On Sept 30th, the Disney Corp had a Retained Earnings balance of $8,241 million.One year later it had jumped to $9,021million.They sold no stock during the year but did pay $236 million in common dividends.Their DPS = $0.50.Given this information:
a.what must have been their net income for the year(8 points )andb.how manyshares of stock must be outstanding(only 2 points - yes this part is difficult)
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