Required information [The following information applies to the questions displayed below.] The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $0 13,000 28,600 41,600 46,000 (2,300) $85,300 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Dividends paid 4. If retained earnings at the beginning of the period was $39 million and net income during the year was $10,438,750, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).)
Required information [The following information applies to the questions displayed below.] The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $0 13,000 28,600 41,600 46,000 (2,300) $85,300 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Dividends paid 4. If retained earnings at the beginning of the period was $39 million and net income during the year was $10,438,750, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).)
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.1E
Related questions
Question
![OBLEMS
Required information
[The following information applies to the questions displayed below.]
The stockholders' equity section of The Seventies Shop is presented here.
THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders' equity
$0
13,000
28,600
Dividends paid
41,600
46,000
(2,300)
$85,300
Saved
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands.
4. If retained earnings at the beginning of the period was $39 million and net income during the year was $10,438,750, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F96754444-8db0-4381-98d5-32976fba1a32%2F11806e12-24c0-4094-abab-510420830e4d%2Fmhwpys_processed.jpeg&w=3840&q=75)
Transcribed Image Text:OBLEMS
Required information
[The following information applies to the questions displayed below.]
The stockholders' equity section of The Seventies Shop is presented here.
THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders' equity
$0
13,000
28,600
Dividends paid
41,600
46,000
(2,300)
$85,300
Saved
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands.
4. If retained earnings at the beginning of the period was $39 million and net income during the year was $10,438,750, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).)
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