Tech Solutions Corporation paid out $25.8 million in total common dividends and reported $143.2 million of retained earnings at year- end. The prior year's retained earnings were $112.5 million. What was the net income? Assume that all dividends declared were actually paid.

Tech Solutions Corporation paid out $25.8 million in total common dividends and reported $143.2 million of retained earnings at year- end. The prior year's retained earnings were $112.5 million. What was the net income? Assume that all dividends declared were actually paid.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

Assume that all dividends general accounting declared were actually paid

Tech Solutions Corporation paid out $25.8 million in total common
dividends and reported $143.2 million of retained earnings at year-
end. The prior year's retained earnings were $112.5 million. What
was the net income? Assume that all dividends declared were
actually paid.

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