Answer:
Difference in retained earnings
= $840,000,000- $825,000,000
= $15,000,000
Dividend paid = Net income - Difference in retained earnings
Dividend paid = $55,000,000 - $15,000,000
Dividend paid = $40,000,000
Explanation:
In this case, there is need to determine the difference in retained earnings, which equal retained earnings at the end minus retained earnings at the beginning.
Dividend paid is calculated as net income minus difference in retained earnings.
