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Fi515 Homework Week1

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Fi515 Homework Week1
|(2-6) Statement of Retained Earnings | | | | |
|In its most recent financial statements, Newhouse Inc. reported $50 million of net income and $810 million of retained earnings. The previous retained earnings | |
|were $780 million. How much in dividends was paid to shareholders during the year? (Brigham 79) | |
| | | | | | |
|Previous retained earnings balance |780,000,000 | | | | |
|Current retained earnings balance |810,000,000 | | | | |
|Current net income |50,000,000 | | | | |
|Common dividends |TBD | | | | |
| | | | | | |
| | | | | | |
|Formula |New Balance retained earning = |Previous Balance |net income – |Dividend paid | |
| |
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