Ask Experts Questions for FREE Help !
Ask
    Elizabeth White's Avatar
    Elizabeth White Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Nov 23, 2008, 06:17 AM
    What are the retained earnings for 2007?
    A firm had net income of $150,000 for the year ending 2007. The company paid out 40% of earnings per share as a dividend. The firm has 120,000 shares issued and outstanding. What are the retained earnings for 2007?
    Elizabeth White's Avatar
    Elizabeth White Posts: 3, Reputation: 1
    New Member
    		  
    #2

    Nov 23, 2008, 06:29 AM

    Sorry, I forgot to show my work. I have $150,000 x (1-.40) = $90,000

    I don't think this is correct and I'm not sure how to go about solving it. Thanks in advance for any help!
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Retained Earnings = Earnings less dividends [ 5 Answers ]

Could someone confirm that's the correct definition of R.E. I thought R.E. is net not pay out dividend but my professor has in his note as "Retained Earnings = Earnings less dividends"

Calculating net earnings and preparing statement of retained earnings [ 2 Answers ]

I just started my introduction to accounting class in university and I am a little stuck on this question because we didn't really go over this is class... please help! Here is the information given: Sea Surf Campground is a public camping ground in Ocean National Park. It has the following...

Retained Earnings [ 1 Answers ]

Retained Earnings Computations 2009 Revenues 230,000 Expenses with income tax 190,000 Cash dividend 25,000 2008 Assets 350,000 Liabilities 80,000 Stock 210,000

Earnings per share and retained earnings [ 2 Answers ]

I am confused on how to calculate the earnings per share and the common dividend per share as well as figure out what the increased retained earnings for the year. The problem states that the company had an operating profit of $210,000. Interest expense for the year was $30,000; preferred...

Retained earnings [ 1 Answers ]

I need to calculate the retrained earnings for 06 and 05 For 06 I only have the revenue and expenses figures For 05 I have the assets, liabilities, capital stock and dividends How do I calculate the retained earnings for the 2 years Thanks :)

View more questions Search