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Homework Answers
Solution:
Dividend paid in 2018 = Common dividend + Preferred dividend for 4 year
= (1128*$3.87) + (199*$4.79*4) = $8,178
Company's net income for 2018 = Ending retained earnings - Beginning retained earnings + Dividend paid
= $75,859 - $57,182 + $8,178
= $26,855
Hence option d is correct.
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The beginning balances of the shareholders equity of Hanssen Incorporated for the year 20x7 are as follows: $10188418 Common shares, 1,000,000 shares issued Retained earnings $1218423 During 20x7, David repurchased 63245 shares at $271550 The net income for the year was $947228. What is the balance in retained earnings at December 31, 20x7? Select one: a $ 1098033 b. $120390 c. $2165651 d. $1067618
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The beginning balances of the shareholders equity of Hanssen Incorporated for the year 20x7 are as follows: $10188418 Common shares, 1,000,000 shares issued Retained earnings $1218423 During 20x7, David repurchased 63245 shares at $271550 The net income for the year was $947228. What is the balance in retained earnings at December 31, 20x7? Select one: a $ 1098033 b. $120390 c. $2165651 d. $1067618
Please show all steps so I can fully understand how to
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