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Anna71 [15]
3 years ago
5

Electronics World Inc. paid out $29.7 million in total common dividends and reported $342.3 million of retained earnings at year

-end. The prior year's retained earnings were $287.5 million. What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary.
Business
1 answer:
timofeeve [1]3 years ago
5 0

Answer:

The net income is $845,000,000

Explanation:

In this question, we use the retained earning equation which is shown below:

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

$3,423,000,000 = $2,875,000,000 + net income - $297,000,000

$3,423,000,000 = $2,578,000,000 + net income

So, the net income would be

= $3,423,000,000 - $2,578,000,000

= $845,000,000

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When diversification combines two businesses in different industrial sectors, the key determinant of whether the diversification
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3 years ago
The federal legislation that replaces nclb, and articulates broad national goals and serves to guide much of federal educational
marin [14]

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6 0
1 year ago
Another term for the cash-and-carry purchasing procedure is: Question 2 options: a) stockless purchasing b) forward buying c) fi
satela [25.4K]

Answer:

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5 0
3 years ago
"Ginny sells bottled water from a small stand by the beach. On the last day of summer vacation, many people are on the beach, an
konstantin123 [22]

Answer:

Explanation:

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3 years ago
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