Intermediate Financial Management
Intermediate Financial Management
14th Edition
ISBN: 9780357516782
Author: Brigham, Eugene F., Daves, Phillip R.
Publisher: Cengage Learning
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Chapter 6, Problem 6P

In its most recent financial statements, Del-Castillo Inc. reported $70 million of net income and $900 million of retained earnings. The previous retained earnings were $855 million. How much in dividends did the firm pay to shareholders during the year?

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In its most recent financial statements, Del-Castillo Inc. reported $70 millionof net income and $900 million of retained earnings. The previous retainedearnings were $855 million. How much in dividends did the firm pay toshareholders during the year?
In its most recent financial statements, Nessler Inc. reported $75 million of net income and $825 million of retained earnings. The previous retained earnings were $784 million. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid.
Electronics World Inc. paid out $22.4 million intotal common dividends and reported $144.7 million of retained earnings at year-end. Theprior year’s retained earnings were $95.5 million. What was the net income? Assume thatall dividends declared were actually paid.
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