reported $278.9 million of ret

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
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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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STATEMENT OF STOCKHOLDERS’ EQUITY Computer World Inc. paid out $22.5 million
in total common dividends and reported $278.9 million of retained earnings at year-end.
The prior year’s retained earnings were $212.3 million. What was the net income? Assume
that all dividends declared were actually paid.

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