Ivanhoe Ltd, reported net income of $5304000 for 2023, and earnings per share of $5. Included in the net income was $745000 of bond interest expense related to its long-term debt. The income tax rate for 2023 was 30%. Dividends paid on preferred shares was $1003000, The payout ratio on common shares was 20%. What were the dividends paid on common shares in 2023? $1060800 $1310100 $860200 $964512

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ivanhoe Ltd, reported net income of $5304000 for 2023, and earnings per share of $5. Included in the net
income was $745000 of bond interest expense related to its long-term debt. The income tax rate for 2023
was 30%. Dividends paid on preferred shares was $1003000, The payout ratio on common shares was
20%. What were the dividends paid on common shares in 2023?
$1060800
$1310100
$860200
$964512
Transcribed Image Text:Ivanhoe Ltd, reported net income of $5304000 for 2023, and earnings per share of $5. Included in the net income was $745000 of bond interest expense related to its long-term debt. The income tax rate for 2023 was 30%. Dividends paid on preferred shares was $1003000, The payout ratio on common shares was 20%. What were the dividends paid on common shares in 2023? $1060800 $1310100 $860200 $964512
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