The 2017 statement of financial position of Roger’s Tennis Shop Inc. showed $450,000 in the common stock account and $2.1 million in the additional retained earnings account. The 2018 statement of financial position showed $490,000 and $2.4 million in the same two accounts, respectively.
If the company paid out $400,000 in cash dividends during 2018, what was the cash flow to shareholders for the year? (Enter your answer in thousands of dollars. Omit $ sign in your response.)
Cash flow to shareholders $
Cash flow to shareholders = Cash dividend paid - Funds raised
= 400,000 - (490,000-450,000)
= $360,000
Hence, cash flow to shareholders = $360,000
Note: change in retained earnings is due to net income earned during the year
The 2017 statement of financial position of Roger’s Tennis Shop Inc. showed $450,000 in the common...
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