[The following information applies to the questions displayed below.] The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $0 19,000 87,400 106,400 52,000 (3,500) $154,900 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4B (Algo) Part 4 4. If retained earnings at the beginning of the period was $45 million and net income during the year was $9,506,875, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).) 69 Dividends paid $ 5,200,000
[The following information applies to the questions displayed below.] The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $0 19,000 87,400 106,400 52,000 (3,500) $154,900 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4B (Algo) Part 4 4. If retained earnings at the beginning of the period was $45 million and net income during the year was $9,506,875, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).) 69 Dividends paid $ 5,200,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![[The following information applies to the questions displayed below.]
The stockholders' equity section of The Seventies Shop is presented here.
THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders' equity
$0
19,000
87,400
106,400
52,000
(3,500)
$154,900
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands.
Problem 10-4B (Algo) Part 4
4. If retained earnings at the beginning of the period was $45 million and net income during the year was $9,506,875, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).)
69
Dividends paid
$
5,200,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F47ee90fb-bad8-4b0f-9313-4e0de5bf2043%2Fed0af26e-554c-4515-8c85-39db6527bff7%2Feov0jjp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
The stockholders' equity section of The Seventies Shop is presented here.
THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders' equity
$0
19,000
87,400
106,400
52,000
(3,500)
$154,900
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands.
Problem 10-4B (Algo) Part 4
4. If retained earnings at the beginning of the period was $45 million and net income during the year was $9,506,875, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).)
69
Dividends paid
$
5,200,000
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