What is the firm's dividend payment in the current year?
Solution : Income statement for the current year
Sales revenue. 46,117
Less : Cost of goods sold. 18,048
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Gross margin . 28,069
Less : Operating exp.(excl dep) 18,172
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EBDIT. 9,897
Less : Depreciation. 2,806
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EBIT. 7,091
Less : Interest Exp. 4,17
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EBT. 6,674
Less: Taxes. 2,775
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Net Income. 3,899
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Calculation for dividend payment of current year :-
1). Calculate the net change in retained earnings by subtracting the current year retained earning figure from the last year retained earning.
Difference = 29,828 - 28,678 = 1,150
2) If the net change in retained earnings is less than the net income ,the difference is the amount of dividend paid out during the period.
So, Net income = 3,899
Less : Net change in retained earnings = 1,150
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2,749
So, 2,749 must have been paid out to investors as a dividend.
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