Computer World Inc. paid out $36.8 million in total common dividends and reported $118.7 million of retained earnings at year- end. The prior year's retained earnings were $85.5 million. What was the net income? Assume that all dividends declared were actually paid.

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 6P: In its most recent financial statements, Del-Castillo Inc. reported 70 million of net income and 900...
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Accounting. Computer world inc. paid out $36.5 million in total

Computer World Inc. paid out $36.8 million
in total common dividends and reported
$118.7 million of retained earnings at year-
end. The prior year's retained earnings were
$85.5 million. What was the net income?
Assume that all dividends declared were
actually paid.
Transcribed Image Text:Computer World Inc. paid out $36.8 million in total common dividends and reported $118.7 million of retained earnings at year- end. The prior year's retained earnings were $85.5 million. What was the net income? Assume that all dividends declared were actually paid.
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