A company has the following information: 2013 retained earnings balance of $12 billion Net income of...
A company has the following information: 2013 retained earnings balance of $12 billion Net income of $3.5 billion in 2014 Capex of $200 million in 2014 Preferred dividends of $100 million in 2014 Common dividends of $400 million in 2014
What is the retained earnings balance at the end of 2014?
Homework Answers
SOLUTION:
Retained Earnings at the end = [RE Beginning Balance + Net Income (or loss) - Dividends]
= [$12,000 million + $350 billion - $100 million - $400 million]
= 11,850 million or 11.85 billion
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