TechVision Corp. paid out $18.5 million in total common dividends and reported $215.3 million of retained earnings at year-end. The prior year's retained earnings were $178.9 million. Assume that all dividends declared were actually paid. Required: What was the net income?

TechVision Corp. paid out $18.5 million in total common dividends and reported $215.3 million of retained earnings at year-end. The prior year's retained earnings were $178.9 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 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Financial Accounting question

TechVision Corp. paid out $18.5 million in total common
dividends and reported $215.3 million of retained earnings at
year-end. The prior year's retained earnings were $178.9 million.
Assume that all dividends declared were actually paid.
Required:
What was the net income?

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