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Black_prince [1.1K]
3 years ago
12

A company has retained earnings of $94,000 as of December 31, 2014. The Pro-forma income statement projects net income of $22,00

0 for 2015. The company expects to declare their annual dividend on March 15, 2015 of $0.70 per share and has a total of 100,000 shares outstanding. What will the projected retained earnings account be as of December 31, 2015?
Business
1 answer:
GREYUIT [131]3 years ago
5 0

Answer:

$46,000.

Explanation:

To know the retained earnings at the end of 2015, we first need to calculate how much dividend the company will pay to its shareholders then add up the net income in 2015 to the remaining of retained earning at the end of 2014 (after paying 2014's dividend at Mar 2015)  to get retained earnings at the end of 2015.

Total dividend in on Mar 2015 = 0.7 x 100,000 = 70,000

Retained Earning at the end of 2015 = 94,000 - 70,000 + 22,000 = 46,000.

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Explanation:

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What is equilibrium wage?
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Explanation:

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A business practice associated with globalization involves businesses moving manufacturing and service centers to countries wher
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Outsourcing.

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Sloane tells eden that brad is a horrible son to his mother. brad sues for defamation even though he suffered no injury. brad wi
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"Defamation of character"

Is a catch-all term for any statement that hurts someone's reputation. Written defamation is called "libel," while spoken defamation is called "slander." Because written statements last longer than spoken statements, most courts, juries, and insurance companies consider libel more harmful than slander.

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