Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The December 3 1 , 2 0 2 1 , balance sheet of Chen, Incorporated, showed $ 1 5 2 , 0 0 0 in

The December 31,2021, balance sheet of Chen, Incorporated, showed $152,000 in the common stock account and $2,770,000 in the additional paid-in surplus account. The December 31,2022, balance sheet showed $162,000 and $3,070,000 in the same two accounts, respectively. The company paid out $157,000 in cash dividends during 2022. What was the cash flow to stockholders for the year?
Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g.,32.
Cash flow to stockholders
8 of 10
image text in transcribed

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

Recommended Textbook for

Stocks For The Long Run

Authors: Jeremy Siegel

6th Edition

1264269803, 978-1264269808

More Books

Students also viewed these Finance questions

Question

6.3 Explain the importance of application forms.

Answered: 1 week ago