TechDynamics Inc. paid out $18.5 million in total common dividends and reported $128.3 million of retained earnings at year-end. The prior year's retained earnings were $103.8 million. Assume that all dividends declared were actually paid. Required: What was the net income?

TechDynamics Inc. paid out $18.5 million in total common dividends and reported $128.3 million of retained earnings at year-end. The prior year's retained earnings were $103.8 million. Assume that all dividends declared were actually paid. Required: What was the net income?

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 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Question

what was the income ? general accounting question

TechDynamics Inc. paid out $18.5 million in total common dividends and reported $128.3 million
of retained earnings at year-end. The prior year's retained earnings were $103.8 million. Assume
that all dividends declared were actually paid.
Required:
What was the net income?

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