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serious [3.7K]
3 years ago
15

Sheridan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, ex

penses of $380000, and paid dividends of $141500. What was Sheridan retained earnings at the end of the year?A. $1131500B. $600000C. $737500D. $1017500
Business
1 answer:
Margarita [4]3 years ago
3 0

Answer:

C. $737,500

Explanation:

The formula to compute the ending balance of retained earning is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

= $659,000 + $220,000 - $141,500

= $737,500

The net income is calculated below:

= Sales revenues - expenses

$600,000 - $380,000

= $220,000

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Answer:

Ans. The expected rate of return on the Inferior Goods Co. stock is 5.90%

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Hi, you just have to multiply the expected earnings by the probability of occurance of a certain event and then add up all the products. Here is the information all organized to be processed.

Item                  Prob Earn

Booming           20% -6%

Normal           55% 7%

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ExpectedReturn=(0.2*(-0.06))+(0.55*0.07)+(0.25*0.13)

ExpectedReturn=-0.012+0.039+0.033=0.059

So the expected rate of return of the stock is 5.90%

Best of luck.

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