What is the new value of retained earnings account

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Reference no: EM132073302

The equity account of this company is

Common Shares ($1.00 par value) 10,000,000

Additional Paid In Capital 50,000,000

Retained Earnings 125,000,000

Treasury Shares at Cost 1,000,000

Net Common Equity 186,000,000

This company has had a very successful year and earnings are $21,000,000. The company has 12,000,000 shares outstanding and will pay a dividend of $1.00/share.

Calculate:

1) What are the retained earnings for the year

2) What is the new value of retained earnings account?

Reference no: EM132073302

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