Condensed balance sheet and income statement data for Jernigan Corporation are p

Question

Condensed balance sheet and income statement data for Jernigan Corporation are presented here.

Additional information:

JERNIGAN CORPORATION
Balance Sheets
December 31

2014
2013
2012 Cash
$ 31,485
$ 21,485
$ 19,485 Accounts receivable (net)
51,485
46,485
49,485 Other current assets
94,200
99,200
68,200 Investments
59,200
74,200
49,200 Plant and equipment (net)
500,000
370,000
358,000

$736,370
$611,370
$544,370 Current liabilities
$ 86,485
$ 81,485
$ 71,485 Long-term debt
149,200
89,200
54,200 Common stock, $10 par
324,200
314,200
304,200 Retained earnings
176,485
126,485
114,485

$736,370
$611,370
$544,370 Condensed balance sheet and income statement data for Jernigan Corporation are presented here.

Explanation / Answer

Question 2
Dividends Paid = Opening Balance of Retained Earnings + Net Income - Closing Balance of Retained Earnings

Year

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