The 2019 statement of financial position of Roger’s Tennis Shop Inc. showed $630,000 in the common stock account and $4.9 million in the additional retained earnings account. The 2020 statement of financial position showed $670,000 and $5.4 million in the same two accounts, respectively. If the company paid out $620,000 in cash dividends during 2020, what was the cash flow to shareholders for the year? (Enter the answer in dollars, not millions of dollars, i.e. 1,234,567. Omit $ sign in your response.)
The 2019 statement of financial position of Roger’s Tennis Shop Inc. showed $630,000 in the common stock account and $4.9 million in the additional retained earnings account. The 2020 statement of financial position showed $670,000 and $5.4 million in the same two accounts, respectively. If the company paid out $620,000 in cash dividends during 2020, what was the cash flow to shareholders for the year? (Enter the answer in dollars, not millions of dollars, i.e. 1,234,567. Omit $ sign in your response.)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 19SP
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