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In its most recent financial statements, Del-Castillo Inc. reported $75 million of net income and $880...

In its most recent financial statements, Del-Castillo Inc. reported $75 million of net income and $880 million of retained earnings. The previous retained earnings were $864 million. How much in dividends did the firm pay to shareholders during the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.

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Answer #1

Ending retained earnings=Beginning retained earnings+Net income-Dividends

880=864+75-Dividends million

Dividends=864+75-880 million

=$59,000,000

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