What was the increase in retained earnings for the year

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Reference no: EM131796160

Question: Elite Trailer Parks has an operating profit of $246,000. Interest expense for the year was $34,000; preferred dividends paid were $29,000; and common dividends paid were $45,000. The tax was $63,800. The firm has 24,700 shares of common stock outstanding.

a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. (Round your answers to 2 decimal places.)

b. What was the increase in retained earnings for the year?

Reference no: EM131796160

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