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The year-end 2015 balance sheet of XYZ Inc. listed common stock and other paid-in capital at $1,100,000 and retained earnings at $3,500,000. The next year, retained earnings were listed at $3,800,000. The firm's net income in 2016 was $700,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2016? OA. $400,000 O B. $600,000 O c. $500,000 O D. $800,000

The year-end 2015 balance sheet of XYZ Inc. listed common stock and other paid-in capital at $1,100,000 and retained earnings at $3,500,000. The next year, retained earnings were listed at $3,800,000. The firm's net income in 2016 was $700,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2016? OA. $400,000 O B. $600,000 O c. $500,000 O D. $800,000

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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The year-end 2015 balance sheet of XYZ Inc. listed common stock and other paid-in capital at $1,100,000 and retained earnings at $3,500,000. The next year, retained earnings were listed at $3,800,000. The firm’s net income in 2016 was $700,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2016? - A. $400,000 - B. $600,000 - C. $500,000 - D. $800,000
Transcribed Image Text:The year-end 2015 balance sheet of XYZ Inc. listed common stock and other paid-in capital at $1,100,000 and retained earnings at $3,500,000. The next year, retained earnings were listed at $3,800,000. The firm’s net income in 2016 was $700,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2016? - A. $400,000 - B. $600,000 - C. $500,000 - D. $800,000
Expert Solution
Step 1

Data given:

Retained Earnings (2015) = $3,500,000

Net income (2016) = $700,000

Retained Earnings (2016) =$3,800,000

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