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JKCPA
JKCPA, CPA
Category: Finance
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Experience:  Bachelors degree and CPA with Accounting experience.
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In its most recent financial statements, Newhouse Inc. reported

Resolved Question:

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? Please show the work in how you got the answer. Thank you.
Submitted: 4 years ago.
Category: Finance
Expert:  JKCPA replied 4 years ago.
Hi,

Thanks for the question.

$780M beginning retained earnings.
+$50M net income
= $830M ending retained earnings before dividends
less $810M ending retained earnings after dividends
= $20 million dividends paid

Hope this helps!


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