In the previous problem, suppose Raines Umbrella Corp. paid out $45,000 in cash dividends. Is this possible?

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In the previous problem, suppose Raines Umbrella Corp. paid out $45,000 in cash dividends. Is this possible? If spending on net fixed assets and net working capital was zero, and if no new stock was issued during the year, what was the change in the firm’s long-term debt account?
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Corporate Finance Core Principles and Applications

ISBN: 978-0077905200

3rd edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford

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