Cooper Industries, Inc., began 2021 with retained earnings of $25.11 million. During the year it paid four quarterly dividends of $0.37 per share to 3.16 million common stockholders. Preferred stockholders, holding 492,000 shares were paid two semiannual dividends of $0.72 per share. The firm had a net profit after taxes of $5.35 million. Prepare the statement of retained earnings for the year ended December 31, 2021. Complete the statement of retained earnings below: (Round to the nearest dollar.) Cooper Industries, Inc. Statement of Retained Earnings for the Year Ended December 31, 2021 Retained earnings balance (January 1, 2021) Plus: Net profits after taxes (for 2021) Less: Cash dividends (paid during 2021) Preferred stock Common stock Total dividends paid Retained earnings balance (December 31, 2021)
Cooper Industries, Inc., began 2021 with retained earnings of $25.11 million. During the year it paid four quarterly dividends of $0.37 per share to 3.16 million common stockholders. Preferred stockholders, holding 492,000 shares were paid two semiannual dividends of $0.72 per share. The firm had a net profit after taxes of $5.35 million. Prepare the statement of retained earnings for the year ended December 31, 2021. Complete the statement of retained earnings below: (Round to the nearest dollar.) Cooper Industries, Inc. Statement of Retained Earnings for the Year Ended December 31, 2021 Retained earnings balance (January 1, 2021) Plus: Net profits after taxes (for 2021) Less: Cash dividends (paid during 2021) Preferred stock Common stock Total dividends paid Retained earnings balance (December 31, 2021)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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