Solution-Amount of the dividends paid

Amount of the dividends paid

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For the year, Uptowne Furniture had sales of $818,790, costs of $748,330, and interest paid of $24,450. The depreciation expense was $56,100 and the tax rate was 34 percent. At the beginning of the year, the firm had retained earnings of $172,270 and common stock of $260,000. At the end of the year, retained earnings was $158,713 and common stock was $280,000. Any tax losses can be used. What is the amount of the dividends paid for the year?

Reference no: EM131360264

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Amount of the dividends paid

Reference no: EM131360264

Reference no: EM131360264

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