During the year stockholders equity increased from $93k to $105k.
Earned net income is $17k. No changes in capital stock amounts.
How much in
dividends were declared during the year?
Homework Answers
Solution:
Ending stockholder's equity = Beginning stockholder's equity + Net income - Dividends
$105,000 = $93,000 + $17,000 - Dividends
Dividend declared during the year = $5,000
Hence option A is correct.
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