A firm's year-end retained earnings balances are $350,000 and $420,000, for 2018 and 2019 respectively. The...

A firm's year-end retained earnings balances are $350,000 and $420,000, for 2018 and 2019 respectively. The firm reported net profits after taxes of $100,000 in 2019. The firm's dividend payment for 2019 is ____.

$30,000

$50,000

$0

$70,000

Expert Solution

Ending retained earnings=Beginning retained earnings+Net income-Dividends

420,000=350,000+100,000-Dividends

Dividends=350,000+100,000-420,000

=$30,000

jeff jeffy answered 2 years ago

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