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I am Lyosha [343]
3 years ago
6

Colgate-Palmolive Company reports the following balances in its retained earnings.

Business
1 answer:
Dafna11 [192]3 years ago
3 0

Answer:

a. $1,028 million

b. 46.7%

Explanation:

a. Dividends are taken from the retained earnings and net income is added to the retained earnings. The formula for ending retained earnings is;

Ending retained earnings = Opening Retained earnings + Net Income - Dividends

14,329 = 13,157 + 2,200 - Dividends

Dividends = 13,157 + 2,200 - 14,329

Dividends = $1,028 million

b. Dividends as a percentage of income

= 1,028/2,200

= 0.467

= 46.7%

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