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    jennmc's Avatar
    jennmc Posts: 1, Reputation: 1
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    #1

    Mar 24, 2009, 07:43 AM
    Determining Net Income
    If you have a partial balance sheet with retained earnings 300,000 for 2005 and 100,00 for 2004. Cash dividends of 65,000 for 05 and 50,000 for 04. And dividends payable 0 for 05 and 25,000 for 04. How do you determine net income. I know that tou subtract the retained earnings from one another and then subtract the dividends, but if it has a balance of 0 does it mean they have already been paid for the year?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Mar 24, 2009, 08:05 AM

    And dividends payable 0 for 05.

    This means that the official dividend declaration has not been made yet.
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