Principles of Accounting
12th Edition
ISBN: 9781133626985
Author: Belverd E. Needles, Marian Powers, Susan V. Crosson
Publisher: Cengage Learning
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Portman Solutions paid out $42.5 million in total common dividends and reported $150.3 million of retained earnings at year-end. The prior year's retained earnings were $104.8 million. Assume that all dividends declared were actually paid. What was the net income for the year?
What is the corporations net income for the year ending October 31, 2014?
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