Smart Students 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. Smillion. What was the net income? Assume that all dividends declared were actually paid.

Q: In its recent income statement, Smith Software Inc. reported $28 million of net income, and in its…

A: Net income refers to the portion of revenue left after deducting all the expenses from the revenue.…

Q: At the beginning of the current fiscal year, the balance sheet of Hughey Incorporated showed…

A: The accounting equation states that assets are equal to the sum of the liabilities and equity.Ending…

Q: a company had a beginning balance in retained earning of 43,400. it had net income of 6,400 and…

A: Ending balance in retained earnings = Beginning balance in retained earning + net income - Dividend…

Q: Concord Corp began the year by issuing $113000 of common stock for cash. The company recorded…

A: Net Income is the portion of revenue which is left with the company after all the expenses for the…

Q: At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders'…

A: Net income: The bottom line of income statement which is the result of excess of earnings from…

Q: Blossom Corporation reported EBITDA of $7,299,875 and net income of $3,789,692.44 last year. The…

A: The regular operations a business engages in to generate income, produce goods or services, and…

Q: In its most recent financial statements, Nessler Inc. reported $55 million of net income and $1,045…

A: Retained Earnings is the amount of earnings that is accumulated and that is attributable to the…

Q: Schaeffer Corporation reports $50 million accumulated other comprehensive income in its balance…

A: Comprehensive income: Comprehensive income represents the amount of net income plus other…

Q: HUD, Co, had a beginning retained earnings of $29,240. For the year, the company had net income of…

A: The objective of the question is to calculate the ending retained earnings balance for HUD, Co.…

Q: The board of directors of Kendall Co. declared cash dividends totaling $390,000 during the current…

A: Cash Dividend :- Dividend pay by company out of earning in the form of cash to shareholders.

Q: At the beginning of its current fiscal year, Willie Corporations balance sheet showed assets of $…

A: As per dual concept of accounting, every transaction has dual impact on the books of accounts, the…

Q: On 12/31/18, Hairs Industries Inc. reported retained earnings of $675,000 on its balance sheet, and…

A: The dividend is paid from the profits earned during the year.

Q: Quartz Corporation had retained earnings balances of $480,000 and $400,000 at the beginning and…

A: Dividends for the Year = Opening Balance of Retained Earnings + Net Profit - Closing Balance of…

Q: KJ Inc. just reported a net income of 800 in its most recent year, and paid a dividend of 260. the…

A: Retained earnings, REt = REt - 1 + NIt - Dt where REt, NIt, Dt refer to retained earning, net income…

Q: Tibbs Inc. had the following data for the most recent year: Net income = $300; Net operating profit…

A: Return on Invested capital is the return or net income after taxes earned on the invested capital…

Q: Midyear on July 31st the digby corporation's balance sheet reported: TOtal liabilities of $128.513…

A: Accounting equation is the equation that shows the relationship between assets, liabilities and…

Q: In its most recent financial statements, Nessler Inc. reported $80 million of net income and $1,440…

A: Given that the net income in the current year is $80 millionRetained earnings in the current year is…

Q: Stosch Company's balance sheet reported assets of $132,000, liabilities of $33,000 and common stock…

A: Formula: Ending Retained earnings balance = Beginning retained balance + Net Income - dividends…

Q: How much Net Income did the company earn during the year?

A: Ownership of an organization can be broken down into small parts or units also known as Shares.…

Q: Smashed Pumpkins Company paid $176 in dividends and $603 in interest over the past year. The company…

A: Income before interest and tax is the difference between operating revenue and operating expenses.…

Q: Zero Corp's total common equity at the end of last year was $430,000 and its net income was $70,000.…

A: ROE or Return-on-Equity is profitability ratio that shows profit available to equity holders in…

Q: in the firm's most recent financial statements, newhouse, inc. reported 57 mil usd of ni and 808 mil…

A: Let's say, RE represents retained earning, NI represents net income and D represents dividends…

Q: Wifi Around reports net income for the year of $220,000. Retained earnings at the beginning and end…

A: Cash dividend: It can be defined as the distribution of the company’s money or funds to the…

Q: A company had a beginning balance in retained earnings of $44,600. It had net income of $7,600 and…

A: Retained earnings:Retained earnings are that portion of profits which are earned by a company but…

Q: disclose on their income statement

A: Income statement refers to the financial statements that contain results of operational performance…

Q: $1,500; Baby Camels Inc. had the following data for the year ending 12/31/12: Net income = EBIT…

A: Return on Invested Capital ( ROIC ) is  a financial metric used to evaluate the efficiency and…

Q: Maynard Enterprises paid $1,804 in dividends and $1,802 in interest over the past year. The common…

A: Dividend = $1,804Retained earnings = $724Addition to retained earnings = Net income -…

Q: the income statement for Stretch-Tape Corporation reports net sales of $439,900 and net income of…

A: Profitability ratios like return on assets, profit margin, etc are used to determine the profit…

Q: At the beginning of its current fiscal year, Willie Corp's balance sheet showed assets of $14,600…

A: Note: In the given case, net assets at the end of the year are equal to ending Retained Earnings…

Q: Electronic world inc paid out $24 million in total common dividends and reported $255.6 million of…

A: Net Income of a company is derived after deducting all the cost or expenses of the company along…

Q: At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of…

A: Net income is the amount of money earned by the entity after deducting the expenses from the…

Q: Puff Company began the year with a retained earnings balance of $50,000, reported net income for the…

A: The dividend is declared and paid to the shareholders from the retained earnings of the business.…

Q: Problem 2 (Statement of Stockholders' Equity) In its most recent financial statements, Newhouse Inc.…

A: Solution..     Retained earnings at the beginning = 780  Retained earnings at the end = 810  Net…