The 2019 statement of financial position of Roger's Tennis Shop Inc. showed $450,000 in the common stock account and $2.1 million in the additional retained earnings account. The 2020 statement of financial position showed $490,000 and $2.4 million in the same two accounts, respectively. If the company paid out $400,000 in cash dividends during 2020, what was the cash flow to shareholders for the year? (Enter the answer in dollars, not millions of dollars, i.e. 1,234,567. Omit $ sign in your response.) Cash flow to shareholders $740,000.
The 2019 statement of financial position of Roger's Tennis Shop Inc. showed $450,000 in the common stock account and $2.1 million in the additional retained earnings account. The 2020 statement of financial position showed $490,000 and $2.4 million in the same two accounts, respectively. If the company paid out $400,000 in cash dividends during 2020, what was the cash flow to shareholders for the year? (Enter the answer in dollars, not millions of dollars, i.e. 1,234,567. Omit $ sign in your response.) Cash flow to shareholders $740,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The 2019 statement of financial position of Roger's Tennis Shop Inc. showed $450,000 in the common stock account and $2.1 million
in the additional retained earnings account. The 2020 statement of financial position showed $490,000 and $2.4 million in the same
two accounts, respectively.
If the company paid out $400,000 in cash dividends during 2020, what was the cash flow to shareholders for the year? (Enter the
answer in dollars, not millions of dollars, i.e. 1,234,567. Omit $ sign in your response.)
Cash flow to shareholders
Mc
-TC
Snow off and on
$740,000.
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