Homework Answers
Retained earnings balance for year 8=(Net income-Dividends)
Dividends=(20 million shares*$1.5)=$30 million.
Hence retained earnings would be =($50 million-$30 million)=$20 million.
EPS=Net income/Number of shares outstanding
=($50 million/20 million)=$2.50
Hence the correct option is B - the company's EPS for Year 8 would be $2.50 and its retained earnings for Year 8 would be $20 million (net income of $50 million less dividend payments of $30 million)
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