Question
reported $2.3 million of retained earnings in 2004. In 2005, the company lost $500,000 (net income = -$500,000). Despite the loss, the company still paid
reported $2.3 million of retained earnings in 2004. In 2005, the company lost $500,000 (net income = -$500,000). Despite the loss, the company still paid a $1.00 per share dividend. The company's earnings per share in 2005 were -$2.50. How much retained earnings did the company have in 2005?
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Personal Finance
Authors: Jack Kapoor, Les R. Dlabay, Robert J. Hughes
2nd Edition
0256079056, 9780256079050
