The following condensed information was reported by Peabody Toys, Inc., for 2018

Question

The following condensed information was reported by Peabody Toys, Inc., for 2018 and 2017: 18 Income statement information Net sales Net income Balance sheet information Current assets Property, plant, and equipment (net) 5,400 $4,48e 128 228 $ 820 770 930 1,280 Total assets Current liabilities Long-term liabilities Paid-in capital Retained earnings s 2,100 1,780 S 560 210 77% 600 12e 770 600 170- Liabilities and shareholders' equity $2,100 1,700 Required 1. Determine the following ratios for 2018: (Round your percentage answers to 1 decimal place.) 2. Determine the amount of dividends paid to shareholders during 2018. (Enter your answer in dollars.)

Explanation / Answer

Solution 2:

Amount of dividend paid to shareholders during 2018 = Beginning retained earnings + Net Income - Ending retained earnings

= $120,000 + $228,000 - $170,000 = $178,000

Note: Solution 1 is not possible as list of ratio to be computed is not available.

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