Smith's Sports Equipment, Inc.'s 2022 balance sheet showed $750,000 in the common stock account and $4.2 million in the additional paid-in surplus account. The 2023 balance sheet showed $800,000 and $4.6 million in the same accounts, respectively. The company paid out $650,000 in cash dividends during 2023. Calculate the cash flow to stockholders for the year.
Smith's Sports Equipment, Inc.'s 2022 balance sheet showed $750,000 in the common stock account and $4.2 million in the additional paid-in surplus account. The 2023 balance sheet showed $800,000 and $4.6 million in the same accounts, respectively. The company paid out $650,000 in cash dividends during 2023. Calculate the cash flow to stockholders for the year.
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Transcribed Image Text:Smith's Sports Equipment, Inc.'s 2022 balance sheet
showed $750,000 in the common stock account and $4.2
million in the additional paid-in surplus account. The
2023 balance sheet showed $800,000 and $4.6 million in
the same accounts, respectively. The company paid out
$650,000 in cash dividends during 2023. Calculate the
cash flow to stockholders for the year.
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