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Item Prior year Current year Accounts payable 8,128.00 7,941.00 Accounts receivable 6,018.00 6,795.00 Accruals 1,018.00 1,562.00...

Item Prior year Current year
Accounts payable 8,128.00 7,941.00
Accounts receivable 6,018.00 6,795.00
Accruals 1,018.00 1,562.00
Cash ??? ???
Common Stock 11,706.00 11,191.00
COGS 12,675.00 18,387.00
Current portion long-term debt 5,052.00 4,980.00
Depreciation expense 2,500 2,758.00
Interest expense 733 417
Inventories 4,103.00 4,807.00
Long-term debt 13,983.00 13,499.00
Net fixed assets 50,428.00 54,010.00
Notes payable 4,377.00 9,836.00
Operating expenses (excl. depr.) 13,977 18,172
Retained earnings 28,828.00 29,707.00
Sales 35,119 46,562.00
Taxes 2,084 2,775

What is the firm's dividend payment in the current year?

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Homework Answers

Answer #1

First, we need to find out Earnig For equity shareholders i..e Net profit after taxes

Gross Profit=Sales+Closing Stock-Opening stock-Cost of Goods sold-Operating Expenses

Gross Profit= 46562+4807-4103-18387-18172

Gross Profit=10707

Net Profit after Tax= Gross Profit-Depreciation-Interest-Taxes

Net Profit= 10707-2758-417-2775

Net Profit after Tax=4757

Now, change in Retained Earnings are 29707-28828= 897

it means in current year Profit transferred to retained earnings are 897

Therefore out of 4757 profit, 897 being transferred to retained earnings and remaining is distributed as dividend in current year

Therefore Dividend amount= 4757-897=3860

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