Jones Archaeology began 2018 with retained earnings of $180,000. During 2018, Jones made sales of $832,000 with 56% of sales allocated to cost of goods sold. Selling and administrative expense for the year was $137,000. There were no other expenses in 2018. At the end of the year, Jones had retained earnings of $243,000. Jones has a tax rate of 32%. How much did Jones pay in dividends for the year?

Answer rating: 100% (QA)

To calculate the dividends paid by Jones Archaeology for the year we need to determine the change in ... View the full answer