Question
The equity portion of a company's balance sheet for end of 2015 and 2016 is shown below: 2015 2016 Common Stock (0.50 par) $4,500,000 $4,800,000
The equity portion of a company's balance sheet for end of 2015 and 2016 is shown below:
2015 2016
Common Stock (0.50 par) $4,500,000 $4,800,000
Capital Surplus $8,600,000 $11,300,000
Retained Earnings $1,967,500 $3,192,000
If the company's net income for 2016 was $4,277,200, how much was the dividend paid out to stockholders in 2016?
| A. | $2,746,700 | |
| B. | $3,303,700 | |
| C. | $4,277,200 | |
| D. | $3,052,700 |
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Illustrating Finance Policy With Mathematica
Authors: Nicholas L. Georgakopoulos
1st Edition
3319953710, 978-3319953717
