Electronics World, Inc. paid out $37.5 million in total common dividends and reported $179.3 million of retained earnings at year-end. The prior year's retained earnings were $134.5 million. What was the net income? Assume that all dividends declared were actually paid.

Electronics World, Inc. paid out $37.5 million in total common dividends and reported $179.3 million of retained earnings at year-end. The prior year's retained earnings were $134.5 million. What was the net income? Assume that all dividends declared were actually paid.

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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Question

I want to correct answer general accounting

Electronics World, Inc. paid out $37.5 million in total
common dividends and reported $179.3 million of
retained earnings at year-end. The prior year's
retained earnings were $134.5 million. What was
the net income? Assume that all dividends declared
were actually paid.

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