Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Polycom Systems earned $ 5 4 0 million last year and paid out 3 0 percent of earnings in dividends. a . By how much

Polycom Systems earned $540 million last year and paid out 30 percent of earnings in dividends.
a. By how much did the company's retained earnings increase?
Note: Do not round intermediate calculations. Input your answer in dollars, not millions (e.g., $1,234,000).
\table[[Addition to retained earnings,37,800,000
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations of Financial Management

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

16th edition

978-1259277160

Students also viewed these Finance questions