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How much in dividends were paid to shareholders during the year?

In its most recent financial statements, Nessler Inc. reported $75 million of net income and $900 million of retained earnings. The previous retained earnings were $855 million. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary.

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Answer #1

Ending retained earnings = Beginning retained earning + Net income - Dividend

Ending retained earning = $900 million

Beginning retained earning = $855 million

Net income = $75 million

According to the formula,

$900m = $855m + $75m - Dividend

$900m = $930m - Dividend

Dividend = $930m - $900m

= $30 million.

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