Question

In its most recent financial statements, Del-Castillo Inc. reported $50 million of net income and $870...

In its most recent financial statements, Del-Castillo Inc. reported $50 million of net income and $870 million of retained earnings. The previous retained earnings were $860 million. How much in dividends did the firm pay to shareholders during the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Solution:-

To Calculate dividends did the firm pay to shareholders during the year-

Dividend Paid = Opening Retained Earning + Net Income - Closing Retained Earning

Dividend Paid = $860 Million + $50 Million - $870 Million

Dividend Paid = $910 Million - $870 Million

Dividend Paid = $40,000,000.

Dividends did the firm pay to shareholders during the year is amounting to $40 Million.

If you have any query related to question then feel free to ask me in a comment.Thanks.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In its most recent financial statements, Del-Castillo Inc. reported $50 million of net income and $870...
In its most recent financial statements, Del-Castillo Inc. reported $50 million of net income and $870 million of retained earnings. The previous retained earnings were $853 million. How much in dividends did the firm pay to shareholders during the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
In its most recent financial statements, Del-Castillo Inc. reported $50 million of net income and $870...
In its most recent financial statements, Del-Castillo Inc. reported $50 million of net income and $870 million of retained earnings. The previous retained earnings were $853 million. How much in dividends did the firm pay to shareholders during the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
In its most recent financial statements, Nessler Inc. reported $20 million of net income and $220...
In its most recent financial statements, Nessler Inc. reported $20 million of net income and $220 million of retained earnings. The previous retained earnings were $211 million. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary.
In its most recent financial statements, Nessler Inc. reported $20 million of net income and $260...
In its most recent financial statements, Nessler Inc. reported $20 million of net income and $260 million of retained earnings. The previous retained earnings were $250 million. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary.
The Wendt Corporation reported $30 million of taxable income. Its federal tax rate was 21% (ignore...
The Wendt Corporation reported $30 million of taxable income. Its federal tax rate was 21% (ignore any possible state corporate taxes). What is the company's federal income tax bill for the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar. $   Assume the firm receives an additional $3 million of interest income from some bonds it owns. What is the additional tax on this...
The Wendt Corporation reported $60 million of taxable income. Its federal tax rate was 21% (ignore...
The Wendt Corporation reported $60 million of taxable income. Its federal tax rate was 21% (ignore any possible state corporate taxes). What is the company's federal income tax bill for the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar. $   Assume the firm receives an additional $3 million of interest income from some bonds it owns. What is the additional tax on this...
Molteni Motors Inc. recently reported $3.25 million of net income. Its EBIT was $6.75 million, and...
Molteni Motors Inc. recently reported $3.25 million of net income. Its EBIT was $6.75 million, and its tax rate was 35%. What was its interest expense? (Hint: Write out the headings for an income statement and then fill in the known values. Then divide $3.25 million net income by 1 − T = 0.65 to find the pre-tax income. The difference between EBIT and taxable income must be the interest expense.) Round your answer to the nearest dollar. Enter your...
Molteni Motors Inc. recently reported $3.75 million of net income. Its EBIT was $7.25 million, and...
Molteni Motors Inc. recently reported $3.75 million of net income. Its EBIT was $7.25 million, and its tax rate was 40%. What was its interest expense? (Hint: Write out the headings for an income statement and then fill in the known values. Then divide $3.75 million net income by 1 − T = 0.6 to find the pre-tax income. The difference between EBIT and taxable income must be the interest expense.) Round your answer to the nearest dollar. Enter your...
Problem 14-12 Stock Repurchase Bayani Bakery's most recent FCF was $49 million; the FCF is expected...
Problem 14-12 Stock Repurchase Bayani Bakery's most recent FCF was $49 million; the FCF is expected to grow at a constant rate of 6%. The firm's WACC is 12%, and it has 15 million shares of common stock outstanding. The firm has $30 million in short-term investments, which it plans to liquidate and distribute to common shareholders via a stock repurchase; the firm has no other nonoperating assets. It has $365 million in debt and $64 million in preferred stock....
Using the new tax laws provided in the textbook Corporate Finance: A Focused Approach, 7th edition,...
Using the new tax laws provided in the textbook Corporate Finance: A Focused Approach, 7th edition, by Ehrhardt & Brigham: Molenti Motors Inc. recently reported $6 million of net income. Its EBIT was $13 million, and its tax rate was 40%. What was its interest expense? (Hint: Write out the headings for an income statement and then fill in the known values. Then divide $6 million net income by 1 – T = 0.6 to find the pre-tax income. The...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT