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Use the following information to find dividends paid to common stockholders during 2021. (Enter your answers in millions of dollars.)   (in millions of dollars)Balance of retained earnings, December 31, 2020 $480Plus: Net income for 2021 60Less: Cash dividends paid  Preferred stock$2 Common stock  Total cash dividends paid  Balance of retained earnings, December 31, 2021 $528

Question

Use the following information to find dividends paid to common stockholders during 2021. (Enter your answers in millions of dollars.)

 
 
  (in millions of dollars)
Balance of retained earnings, December 31, 2020   $480
Plus: Net income for 2021   60
Less: Cash dividends paid    
Preferred stock $2  
Common stock    
Total cash dividends paid    
Balance of retained earnings, December 31, 2021   $528
check_circleAnswer
Step 1

Retained earnings refers to the cumulative net profits (that a firm accumulates) after paying the dividends and other distributions to the investors.

Step 2

Step 3

Here, NI refers to ...

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