Camio Inc reported a net income after tax of $1.3 Billion for the year 2029. During the same year, they declared and paid a cash dividend of $300 Million but forgot to record it. The corporate tax rate was 30%. What will be the new net income after tax in Billions after factoring the declaration of dividends? A)Unchanged B)$1.00 Billion C)$1.60 Billion D)$1.09 Billion

Camio Inc reported a net income after tax of $1.3 Billion for the year 2029. During the same year, they declared and paid a cash dividend of $300 Million but forgot to record it. The corporate tax rate was 30%. What will be the new net income after tax in Billions after factoring the declaration of dividends? A)Unchanged B)$1.00 Billion C)$1.60 Billion D)$1.09 Billion

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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