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SVEN [57.7K]
2 years ago
10

Marshland Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information i

s available: Cash dividends declared for the year $ 40,000 Cash dividends payable at the beginning of the year 17,000 Cash dividends payable at the end of the year 13,000 The amount of cash paid for dividends was: A. $36,000. B. $53,000. C. $40,000. D. $44,000. E. $57,000.
Business
1 answer:
Nikolay [14]2 years ago
4 0

Answer: $44,000

Explanation:

The following information can be gotten from the question:

Cash dividends declared for the year = $40,000

Cash dividends payable at the beginning of the year = $17,000

Cash dividends payable at the end of the year = $13,000

Therefore, the amount of cash paid for dividends was:

= $40,000 + $17,000 - $13,000

= $57,000 - $13,000

= $44,000

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$55,000

Explanation:

The operating income of any entity can be calculated using the following formula:

Operating income=Net income+ income tax expense+ finance cost- other revenues

Net income in this question=$42,000

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finance cost=0

Other revenues=$5000

Operating income=$42,000+$18,000+0-$5000=$55,000

The operating income of any entity can also be calculated using the following formula:

Operating income=Revenues-operating costs

                             =$100,000-$45,000=$55,000

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