The balance sheet of Gold Fields Limited (see Problem 1.22), for the year ended June 30, 2007,

Question:

The balance sheet of Gold Fields Limited (see Problem 1.22), for the year ended June 30, 2007, showed a balance in retained earnings of R5,872.4 at the end of 2007 and R4,640.9 at the end of 2006. Net income for .2007 was R2,362.5 million. Gold Fields reports all amounts in millions of South African Rand (R). Compute the amount of dividends Gold Fields declared during 2007?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...