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The company earned $48 million during 2018. At the end of the year, the board of directors declared

Posted on October 22, 2021 By Leinee 4 Comments on The company earned $48 million during 2018. At the end of the year, the board of directors declared

The company earned $48 million during 2018. At the end of the year, the board of directors declared and paid the contracted amount of preferred dividends as well as $3 per share to common shareholders. No dividends had been declared or paid during 2017. On January 5, the company distributed a 3 for 2 common stock split effected in the form of a stock dividend. What is the balance in retained earnings to be reported on the 2018 balance sheet?

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Comments (4) on “The company earned $48 million during 2018. At the end of the year, the board of directors declared”

  1. Expert says:
    October 23, 2021 at 7:01 am

    d. the economy will face inflation.

    Reply
  2. Expert says:
    October 23, 2021 at 1:09 pm

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  3. Expert says:
    October 23, 2021 at 8:55 pm

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  4. Expert says:
    October 23, 2021 at 9:05 pm

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