Cooper Industries, Inc., began 2015 with retained earnings of $25.32 million. During the year, it paid four

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Cooper Industries, Inc., began 2015 with retained earnings of $25.32 million. During the year, it paid four quarterly dividends of $0.35 per share to 2.75 million common stockholders. Preferred stockholders, holding 500,000 shares, were paid two semiannual dividends of $0.75 per share. The firm had a net profit after taxes of $5.15 million. Prepare the statement of retained earnings for the year ended December 31, 2015.
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Principles of Managerial Finance

ISBN: 978-0133507690

14th edition

Authors: Lawrence J. Gitman, Chad J. Zutter

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