Use the following information to find dividends paid to common stockholders duri

Question

Use the following information to find dividends paid to common stockholders during 2015. (Input all amounts as positive values. Enter your answers in millions.)

2015 Balance of retained earnings, December 31, 2014 $ ___________486 m      Plus: Net income for 2015 ____________25 m      Less: Cash dividends paid               Preferred stock $ __________2 m               Common stock ____________ m         Total cash dividends paid _____________m   Balance of retained earnings, December 31, 2015 $ ___________ 496 m

Explanation / Answer

dividend to common stock holders=RE 2014+Net income-Dividend(preferred stock)-balance RE in 2015=486+25-2-496=13 million

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