Below is information related to retained earnings for five companies.
1. Coca-Cola reports an increase in retained earnings of $2.2 billion and net income of $4.9 billion. What is the amount of dividends?
2. Pepsico reports an increase in retained earnings of $2.4 billion and dividends of $1.6 billion. What is the amount of net income?
3. Google reports an increase in retained earnings of $1.5 billion and net income of $1.5 billion. What is the amount of dividends?
4. Sirius Satellite Radio reports beginning retained earnings of −$1.8 billion, net loss of $0.9 billion, and $0 dividends. What is the amount of ending retained earnings?
5. Abercrombie & Fitch reports ending retained earnings of $1.36 billion, net income of $0.33 billion, and dividends of $0.05 billion. What is the amount of beginning retained earnings?
Required:
Calculate the answer to each.