The 2019 statement of financial position of Roger's Tennis Shop Inc. showed $520,000 in the common stock account and $5.5 million in the additional retained earnings account. The 2020 statement of financial position showed $560,000 and $5.7 million in the same two accounts, respectively. If the company paid out $315,000 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 $

The 2019 statement of financial position of Roger's Tennis Shop Inc. showed $520,000 in the common stock account and $5.5 million in the additional retained earnings account. The 2020 statement of financial position showed $560,000 and $5.7 million in the same two accounts, respectively. If the company paid out $315,000 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 $

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 6P: In its most recent financial statements, Del-Castillo Inc. reported 70 million of net income and 900...

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