Question
On September 30 th , the Disney Corporation had a retained earnings balance of $7,933 (million). One year later it had jumped to $9,557 (million).
On September 30th, the Disney Corporation had a retained earnings balance of $7,933 (million). One year later it had jumped to $9,557 (million). They sold no stock during the year, but did pay $342 (million) in common dividends. Their DPS = $0.51. Given this information:
- What must have been their net income for the year?
- How many shares of stock must be outstanding?
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International Financial Management
Authors: Geert Bekaert, Robert Hodrick
3rd edition
1107111820, 110711182X, 978-1107111820
