Electronics World Inc. paid out $22.4 million in total common dividends and reported $144.7 million of retained earnings at year-end. The prior year's retained earnings were $95.5 million. Assume that all dividends declared actually paid. Required: What was the net income?

Electronics World Inc. paid out $22.4 million in total common dividends and reported $144.7 million of retained earnings at year-end. The prior year's retained earnings were $95.5 million. Assume that all dividends declared actually paid. Required: What was the net income?

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 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Please need help with this accounting question

Electronics World Inc. paid out $22.4 million in
total common dividends and reported $144.7
million of retained earnings at year-end. The prior
year's retained earnings were $95.5 million.
Assume that all dividends declared actually paid.
Required:
What was the net income?

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