Current Assets - 2015 - $316 2016 - $450 Net Fixed Assets - 2015 $1260 2016 - $1450 Current Liabilities - 2015 - $240 2016 - $246 Long-term Debt - 2015 - $860 2016 - $980 If company paid dividends of $130 million in 2016, no stock issued, what was net income during the year? How do you calculate?
Current Assets - 2015 - $316 2016 - $450
Net Fixed Assets - 2015 $1260 2016 - $1450
Current Liabilities - 2015 - $240 2016 - $246
Long-term Debt - 2015 - $860 2016 - $980
If company paid dividends of $130 million in 2016, no stock issued, what was net income during the year? How do you calculate?
My Answer:
- Add current assets + net fixed assets + paid dividends
- 1,900 + 130 = 2,030 net income during the year
A balance sheet is the statement of the financial position which shows the balance of assets, liabilities and the shareholders’ equity of the company at a specified date.
Compute the shareholder's equity for the year 2015, using the equation as shown below:
Hence, the shareholders equity for year 2015 is $476.
Compute the shareholder's equity for the year 2016, using the equation as shown below:
Hence, the shareholder's equity for the year 2016 is $680.
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