Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statement of retained earnings Hayes Enterprises began 2019 with a retained earnings balance of $928,000. During 2019 , the firm earned $377,000 after taxes. From

image text in transcribed
Statement of retained earnings Hayes Enterprises began 2019 with a retained earnings balance of $928,000. During 2019 , the firm earned $377,000 after taxes. From this amount, preferred stockholders were paid $47,000 in dividends. At year-end 2019 , the firm's retained earnings totaled $1,048,000. The firm had 140,000 shares of common stock outstanding during 2019. a. Prepare a statement of retained earnings for the year ended December 31, 2019, for Hayes Enterprises. (Note: Be sure to calculate and include the amount of cash dividends paid in 2019.) b. Calculate the firm's 2019 earnings per share (EPS). c. How large a per-share cash dividend did the firm pay on common stock during 2019 ? a. Prepare a statement of retained eamings for the year ended December 31, 2019, for Hayes Enterprises. (Note: Be sure to calculate and include the amount of cash dividends paid in 2019.) The cash dividends paid on common stock are $ (Round to the nearest dollar.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Students also viewed these Accounting questions