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.

Q: In its recent income statement, Smith Software Inc. reported $28 million of net income, and in its…

A: Net income refers to the portion of revenue left after deducting all the expenses from the revenue.…

Q: In its most recent financial statement, Robredo , Inc. reported  P50,000,000 of net income and…

A: Dividends refer to the distribution of any portion of the profits or any surplus of the company…

Q: Barbadian Limited had a ten fold increase in net income. As a result, they reported ending retained…

A:

Q: The Harbinger Corporation reported net income of $6 million and total assets of $7 million in its…

A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: Electronics World Inc. paid out $24 million in total common dividends and reported $255.6 million of…

A: Net income is the income that is available for distribution of dividends and retained earnings. It…

Q: Electronics World Inc. paid out $41.5 million in total common dividends and reported $278.4 million…

A: Retained earnings means accumulated earnings of the business, which the business has earned over a…

Q: At the beginning of the year, the net assets of Shannon Co. were $617,900. The only transactions…

A: We know that Return on Equity = ( Net Income /Average shareholders equity) Net Assets = Total Assets…

Q: The balance of retained earnings of Dragon Corporation at the beginning of the year was P650,000.…

A: The retained earnings are the net income of the business to be available for shareholders.

Q: Whistler Company had retained earnings of $456,000 at the end of Year 1. During Year 2, Whistler had…

A: Solution: Dividend is the amount that is distributed to the stockholders by the company. Whenever…

Q: MJ INC. paid out $44.8 million in total common dividend and reported $289.4 million of retained…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Angola Corporation reported a net income of $154,000, declared dividends on common stock of $60,000,…

A: Given the following information: Net income: $154,000 Declared dividends on common stock $60,000…

Q: Makers Corp. had additions to retained earnings for the year just ended of $285,000. The firm paid…

A: Given the following information: Addition to retained earnings: $285,000 Total equity: $4,850,000…

Q: Schaeffer Corporation reports $50 million accumulated other comprehensive income in its balance…

A: Comprehensive income: Comprehensive income represents the amount of net income plus other…

Q: Company Zeta had retained earnings balance of $4 million in the previous year. In the current year,…

A: Retained earnings are the portion of income which is held by the company for the future operating…

Q: At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of…

A: As per the Balance Sheet Equation, Liabilities + Owner's Equity= Assets Assets Increased by $130000…

Q: Wildhorse Co. started the year with $64800 in its Common Stock account and a credit balance in…

A: Retained Earnings is the part of Net Income left over for the business after dividend payments to…

Q: The board of directors of Kendall Co. declared cash dividends totaling $390,000 during the current…

A: Cash Dividend :- Dividend pay by company out of earning in the form of cash to shareholders.

Q: Fuentes Corporation reported a net income of $152,000, declared dividends on common stock of…

A: Given the following information: Net income: $152,000 Declared dividends on common stock $50,000…

Q: uperior has provided the following information for its recent year of operation: The common stock…

A: Change in retained earnings=Year end balance-Beginning balance=$91,000-$70,000=$21,000

Q: Quartz Corporation had retained earnings balances of $480,000 and $400,000 at the beginning and…

A: Dividends for the Year = Opening Balance of Retained Earnings + Net Profit - Closing Balance of…

Q: Makers Corp. had additions to retained earnings for the year just ended of $285,000. The firm paid…

A: Given the following information: Additions to retained earnings: $285,000 Dividends paid in cash:…

Q: Ullrich Printing Inc. paid out $20,850 of common dividends during the year. It ended the year with…

A: Net income = Dividend Paid + Increase in retain earnings

Q: Net income for the period totaled OMR75,000, preferred dividends paid totaled OMR10,000, and common…

A: It is pertinent to note that preferred dividends are paid in prior to dividends to be paid to common…

Q: Given the information below for ATH Corp., what was the amount of Dividends declared during the…

A: Ending Retained Earnings = Beginning Retained Earnings + Net Income - Dividend Declared

Q: Reliable Corporation had sales of $61,122,248, cost of goods sold of $24,201,696, operating expenses…

A: Given: Reliable Corporation had sales of $60,257,593, cost of goods sold of $24,092,883, operating…

Q: KJ Inc. just reported a net income of 630 in its most recent year and paid a dividend of 390. If the…

A: Ending Balance of Retained Earnings = Beginning Balance + Net Income - Dividend

Q: The income statement for Delta-tec Inc. for the year ended December 31, Year 2, was as follows:…

A: Trading securities: These are short-term investments in debt and equity securities with an intention…

Q: Jamaica Tours, Inc. started the year with a balance of retained earnings of $1,810 million. The…

A: Calculate the End of Year Balance in Retained Earnings:The end of Year Balance in Retained Earnings…

Q: In its most recent financial statements, Del-Castillo Inc. reported $70 millionof net income and…

A: net income  = $70 million retained earnings = $900 million   previous year retained earnings =…

Q: Mazaya Company provided the following financial information as of March 31, 2011. Revenue RO140,000,…

A: Owner’s equity refers to the right the owner posses over the resources of the business. Revenues and…

Q: The West Hanover Clay Co. had, at the beginning of the fiscal year, November 1, 2013, retained…

A: Retained earnings Retained earnings refer to the left-out profits of a company after paying all the…

Q: How much Net Income did the company earn during the year?

A: Ownership of an organization can be broken down into small parts or units also known as Shares.…

Q: Riley Company paid cash dividends of P840,000 and reported net income of P2,170,000. The ordinary…

A: Book value of ordinary share is the the total ordinary shareholders equity plus net income less cash…

Q: Wifi Around reports net income for the year of $220,000. Retained earnings at the beginning and end…

A: Cash dividend: It can be defined as the distribution of the company’s money or funds to the…

Q: Your company declared $13,800 cash dividends on stock. There were S6, dividends payable at the…

A: The dividend is the profit distributed to the shareholders of the company that is paid to the…

Q: The net income of​ Hendley, Inc. for the year is $35,000. The dividends declared during the year…

A: Increase (decrease) in Retained Earnings = Net income for the year - Dividends declared during the…

Q: Quartz Corporation had retained earnings balances of $480,000 and $400,000 at the beginning and…

A: Option (a) $30,000 is the correct answer

Q: Electronic world inc paid out $24 million in total common dividends and reported $255.6 million of…

A: Net Income of a company is derived after deducting all the cost or expenses of the company along…

Q: Cell Enterprise Corporation reported $55 million of net income and $320 million of retained earnings…

A: Given, Net income = $55 million Ending Retained earnings = $320 million Beginning retained earnings…

Q: In its recent income statement, Smith Software Inc. reported $11 million of net income, and in its…

A: Retained earning means from the total profits and available…

Q: How much in dividends were paid to shareholders during the year? Assume that In its most recent…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Thelma and Louie, Inc. started the year with a balance of retained earnings of $545 million and…

A: O = Opening balance = $ 545 mnC = Closing balance = $ 590 mnTotal dividends paid = $35 million to…

Q: maynard enterprise paid $1,720 in dividends and $1,655 in interest over the past year. the common…

A: Dividend per share refers to the amount of the net income which is paid to the equity shareholders.…

Q: At the beginning of the current year, Callifax Corporationhad dividends payable of $1,500,000.…

A: Cash dividends paid during this year = Beginning dividends payable + cash dividends declared -…

Q: Jensen Company had beginning Retained Earnings of $180,000 and Common Stock of $42,000. Jensen…

A: Ending retained earnings = Beginning retained earnings + Revenue - expenses - Dividend paid

Q: During 2018 Bajery paid out $33,525 of common dividends. In ended the year with $187,500 of retained…

A: The formula is -  Retained earnings(2018) = Retained earnings(2017) + Net Income(2018) -…