Question

Colgate-Palmolive Company reports the following balances in its retained earnings. ($ millions) 2010 2009 Retained earnings...

Colgate-Palmolive Company reports the following balances in its retained earnings.

($ millions) 2010 2009
Retained earnings $14,329 $13,157

During 2010, Colgate-Palmolive reported net income of $2,222 million.

a. Assume that the only changes affecting retained earnings were net income and dividends. What amount of dividends did Colgate-Palmolive pay to its shareholders in 2010?

$______million

b. This dividend amount constituted what percent of its net income? (Round your answer to one decimal place.)

_______%

Homework Answers

Answer #1
a) $    1,050 Million
Working:
$ in Millions
Retained Earning-2009 $       13,157
Add:Net Income $         2,222
Less:Ratained Earning-2010 $       14,329
Dividend paid $         1,050
b) 47.3%
Working:
Dividend Percent = Dividend Paid /Net Income
= $    1,050 / $    2,222
= 47.3%
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