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betterway betterway
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7 years ago
Colonial Furniture's net profits before taxes for 2015 totaled $354,000. The company's total retained earnings were $338,000 for 2014 year-end and $389,000 for 2015 year-end. Colonial is subject to a 26 percent tax rate. What was the cash dividend declared by Colonial Furniture in 2015?
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
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Valued Member
7 years ago
See attachment for solution.
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betterway Author
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7 years ago
Grinning Face Thanks
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