The 2017 balance sheet of Kerber's Tennis Shop, Incorporated, showed $790,000 in the common stock account and $6.1 million in the additional paid-in surplus account. The 2018 balance sheet showed $975,000 and $8.4 million in the same two accounts, respectively. If the company paid out $620,000 in cash dividends during 2018, what was the cash flow to stockholders for the year?

The 2017 balance sheet of Kerber's Tennis Shop, Incorporated, showed $790,000 in the common stock account and $6.1 million in the additional paid-in surplus account. The 2018 balance sheet showed $975,000 and $8.4 million in the same two accounts, respectively. If the company paid out $620,000 in cash dividends during 2018, what was the cash flow to stockholders for the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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