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Wheeler Corporation had retained earnings as of 12/31/10 of $15 million. During 2011, Wheeler's net income was $7 million. The retained earnings balance at the
Wheeler Corporation had retained earnings as of 12/31/10 of $15 million. During 2011, Wheeler's net income was $7 million. The retained earnings balance at the end of 2011 was equal to $20 million. Therefore, Wheeler paid a dividend in 2010 of $5 million. Wheeler paid a dividend in 2010 of $2 million. o Wheeler sold common stock during 2010 for $5 million. Wheeler purchased treasury stock in 2010 for $2 million. Rogue Industries reported the following items for the current year: Sales = $5,000,000; Cost of Goods Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000; Interest Expense = $30,000; Marketing Expenses = $80,000; and Taxes = $300,000. Rogue's net profit margin is equal to 55.4% 35.67% 57.4% O 50.00%
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