reported $278.9 million of ret

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 37CE: Stockholder Profitability Ratios The following information pertains to Montague Corporation...
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STATEMENT OF STOCKHOLDERS’ EQUITY Computer World Inc. paid out $22.5 million
in total common dividends and reported $278.9 million of retained earnings at year-end.
The prior year’s retained earnings were $212.3 million. What was the net income? Assume
that all dividends declared were actually paid.

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