MJ INC. paid out $44.8 million in total common dividend and reported $289.4 million of retained earnings at year-end. The prior year’s retained earnings were $191million. What was the net income ? Assume that all dividends declared and paid. JJ industries has $450 million of common equity on its balance sheet, its stock price is $40 per share, and its market value added is $50 million. How many common shares are currently outstanding?

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Answered: MJ INC. paid out $44.8 million in total…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 6P: In its most recent financial statements, Del-Castillo Inc. reported 70 million of net income and 900...

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MJ INC. paid out $44.8 million in total common dividend and reported $289.4 million of retained earnings at year-end. The prior year’s retained earnings were $191million. What was the net income ? Assume that all dividends declared and paid.

JJ industries has $450 million of common equity on its balance sheet, its stock price is $40 per share, and its market value added is $50 million. How many common shares are currently outstanding?

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