Applying Financial Statement Relations to Compute Dividendsa. Fill in the amounts for the Norfolk Southern statement of changes in retained earnings.Note: Use negative signs with your answers, when appropriate.Norfolk Southern Inc.Consolidated Statements of Changes in Retained IncomeBeginning Balance at Dec. 31, 2015$10,191Net incomeDividends on Common StockShare repurchasesOtherEnding Balance at Dec. 31, 2016Net incomeDividends on Common StockShare repurchasesOtherEnding Balance at Dec. 31, 2017NetDividends on Common StockShare repurchasesOtherEnding Balance at Dec. 31, 20180(695)(731)(8)10,4255,4040(945)(5)14,1762,666(844)081$13,440b. Is it true (or false) that Norfolk Southern purchased its own shares back during each year from 2016 to 2018?◆

Changes in retained earnings :- Ending balance = Beginning balance + net income - dividend on common…

Answered: Applying Financial Statement Relations…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 18E

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Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield
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