At the beginning of the current year, Wilson Corporation had 200,000 shares of 1$ par common stock outstanding and had retained earnings of $4,800,000. During the year, the company had earned $1,675,000 and paid a year end cash dividend of $3 per share. What was wilson corporations retained earnings at the end of the year?
At the beginning of the current year, Wilson Corporation had 200,000 shares of 1$ par common stock outstanding and had retained earnings of $4,800,000. During the year, the company had earned $1,675,000 and paid a year end cash dividend of $3 per share. What was wilson corporations retained earnings at the end of the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At the beginning of the current year, Wilson Corporation had 200,000 shares of 1$ par common stock outstanding and had retained earnings of $4,800,000. During the year, the company had earned $1,675,000 and paid a year end cash dividend of $3 per share. What was wilson corporations retained earnings at the end of the year?
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