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samualson samualson
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Posts: 2459
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6 years ago
Given the following financial statements for ACME Corporation, what amount did the company pay in dividends for 2010?

Income StatementBalance Sheet
Year Ended 12/31/1012/31/201012/31/2009
Sales$1,300,000Current Assets$50,000$45,000
Cost of Goods Sold750,000Gross Fixed Assets880,000650,000
Operating Expenses200,000Less Accumulated Depreciation450,000350,000
Depreciation Expense100,000Fixed Assets430,000350,000
EBIT250,000Total Assets$480,000$395,000
Interest Expense50,000
EBT200,000Current Liabilities$35,000$50,000
Taxes80,000Long-term Debt330,000270,000
Net Income$120,000Common Stock5,0005,000
Retained Earnings110,00070,000
Total Liabilities & Equity$480,000$395,000

A) $45,000
B) $25,000
C) $100,000
D) $80,000
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Marc18Marc18
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6 years ago
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samualson Author
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#2
6 years ago
Marking this solved, moving on to the next...
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