Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
14th Edition
ISBN: 9781337499989
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 13, Problem 11E
To determine

Determine the amount of cash (dividends) paid to stockholders during the year.

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Ridley Energy Inc. is owned by a group of private investors. The firm earned $4,200,000 after taxes this year. With 1.2 million shares outstanding, earnings per share were $3.50. The stock has recently been trading at $80 per share among current shareholders. Four dollars of this value is attributed to investor anticipation of a cash dividend. As the financial manager of Ridley Energy, you are evaluating the alternative of repurchasing some company common stock by means of a tender offer at $80 per share. How much common stock could the firm repurchase if this alternative were selected?
Aquila Enterprises began the year with total liabilities of $120,000 and stockholders' equity of $80,000. During the year, the company had a net income of $190,000 and paid its shareholders $50,000. Total liabilities at the end of the year were $95,000. What is the total amount of assets at the end of the year?
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