Required information [The following information applies to the questions displayed below.] The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity $ 4,600 16,000 401,000 421,600 274,000 (216,000) $ 479,600 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 4. If retained earnings at the beginning of the period was $236 million and $16 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).) Net income million

Question

homework question 10

Required information
[The following information applies to the questions displayed below.]
The stockholders' equity section of Velcro World is presented here.
VELCRO WORLD
Balance Sheet (partial)
($ and shares in thousands)
Stockholders' equity:
Preferred stock, $1 par value
Common stock, $1 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock, 12,000 common shares
Total stockholders' equity
$
4,600
16,000
401,000
421,600
274,000
(216,000)
$ 479,600
Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts
are presented in thousands.
4. If retained earnings at the beginning of the period was $236 million and $16 million was paid in dividends during the year, what was
the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).)
Net income
million
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Transcribed Image Text

Required information [The following information applies to the questions displayed below.] The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity $ 4,600 16,000 401,000 421,600 274,000 (216,000) $ 479,600 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 4. If retained earnings at the beginning of the period was $236 million and $16 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).) Net income million

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