Computer World Inc. paid out $40.3 million in total common dividends and reported $101 million of retained earnings at year-end. The prior year's retained earnings were $66.7 million. What was the net income? Assume that all dividends declared were actually paid. Round the answer to the nearest dollar, if necessary.

Computer World Inc. paid out $40.3 million in total common dividends and reported $101 million of retained earnings at year-end. The prior year's retained earnings were $66.7 million. What was the net income? Assume that all dividends declared were actually paid. Round the answer to the nearest dollar, if necessary.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 6P: In its most recent financial statements, Del-Castillo Inc. reported 70 million of net income and 900...

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