nts out of 1f0 Flag question For the current year, a firm reports $125,000 of ca

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nts out of 1f0 Flag question For the current year, a firm reports $125,000 of cash, retained earnings of $675,000 and $172,500 of net income. On its previous balance sheet, the company had reported $135,000 of cash and $555,000 of retained earnings. No shares were repurchased. How much did the firm pay in dividends? Select one: a. $47,381 b. $49,875 C. $52,500 d. $55,125 e. $57,881 Question 12 Not yet answered Points out of 10 P Flag question d 745 PM 6/13/2018 F12 PrtScr InsertDelete FB F9 F1o F11 Backspace

Explanation / Answer

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

675000=555000+172500-Dividends

Dividends =(555000+172500-675000)

which is equal to

=$52500.

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