Fill in the amounts for the Norfolk Southern statement of changes in retained earnings.Note: Use negative signs with your answers, when appropriate. Norfolk Southern Inc.Consolidated Statements of Changes in Retained IncomeBeginning Balance at Dec. 31, 2015$14,267Net incomeAnswerDividends on Common Stock(973)Share repurchases(1,023)Other(11)Ending Balance at Dec. 31, 201614,595Net income7,566Dividends on Common StockAnswerShare repurchases(1,323)Other(7)Ending Balance at Dec. 31, 201719,846Net income3,732Dividends on Common Stock(1,182)Share repurchasesAnswerOther113Ending Balance at Dec. 31, 2018$18,816

Retained earnings (RE) is the amount of net income left over for the business after it has paid out…

Answered: Fill in the amounts for the Norfolk…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Question

Fill in the amounts for the Norfolk Southern statement of changes in retained earnings.

Note: Use negative signs with your answers, when appropriate.

Norfolk Southern Inc.
Consolidated Statements of Changes in Retained Income
Beginning Balance at Dec. 31, 2015	$14,267
Net income	Answer
Dividends on Common Stock	(973)
Share repurchases	(1,023)
Other	(11)
Ending Balance at Dec. 31, 2016	14,595
Net income	7,566
Dividends on Common Stock	Answer
Share repurchases	(1,323)
Other	(7)
Ending Balance at Dec. 31, 2017	19,846
Net income	3,732
Dividends on Common Stock	(1,182)
Share repurchases	Answer
Other	113
Ending Balance at Dec. 31, 2018	$18,816

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions