42.
The ending Retained Earnings balance of Lambert Inc. increased by $2.5 million from the beginning of the year. The company's net income earned during the year is $7.5 million. What is the amount of dividends Lambert Inc. declared and paid?
$2.5 million.
$7.5 million.
$5.0 million.
$10.0 million.
Divided paid is computed using the equation given below:
Divided = Net income - increase in retained earnings
= $7.5 millions - $2.5 millions
= $5.0 millions
Hence the divided paid is $5.0 millions.
42. The ending Retained Earnings balance of Lambert Inc. increased by $2.5 million from the beginning...
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