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The following information pertains to Alpha Computing at the end of 2015:


Assets $972,500
Liabilities $450,000
Net Income $237,500
Common Stock $370,000


Alpha Computing's Retained Earnings account had a zero balance at the beginning of 2015.
What amount of dividends did the company pay in 2015?

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mltn1980

Answer:

Dividens paid in 2015: $85.000

Explanation:

TOTAL ASSETS   972.500  

TOTAL LIABILITIES   450.000  

Common Stock  $ 370.000

Retained Earnings  $ 152.500

TOTAL EQUITY  $ 522.500

Retained Earnings Report  

Opening retained earnings $ 0

Add: Net Income $ 237.500

Subtotal $ 237.500

Less: Dividens -$ 85.000

Total $ 152.500

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