Ans:
Calculate the dividend |
Shareholders' Equity |
|||||||
Assets |
= |
Liabilities |
+ |
PIC |
+ |
Retained Earnings |
||
Beginning |
$13300 |
= |
$6,400 |
+ |
$0 |
+ |
$6,900 |
|
Changes |
= |
+ |
+ |
-$2700 |
||||
$3,700 |
||||||||
Ending |
13000 |
= |
$5,100 |
+ |
$0 |
+ |
$7,900 |
Ending Liabilities=Beginning Liabilities-Decrease in Liabilities
Ending Liabilities=6400-1300=5100
Ending Net Assets=Ending total Assets-Ending total Liabilities
7900= Ending total Assets -5100=
Ending total assets=13000
Ending RE=Ending Assets-Ending Liabilities
Ending RE=13000-5100=7900
Dividend=Beginning RE + Net Income – Ending RE
=6900+3700-7900=2700
Net Income=3700
Hope this helped ! Let me know in case of any queries.
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