At the end of 2009 a fast-growing advertising agency had a negative balance of $596 million in
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At the end of 2009 a fast-growing advertising agency had a negative balance of $596 million in its retained earnings accounts. Compute the missing amounts in the following table, and comment on the company's performance. Specifically, analyze the company's sales growth, profits, profits as a percentage of sales, and dividends declared as a percentage of net income (dollars in millions).
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2008 2009 2007 S (523) 1,522 1.608 S (758) S (499) 1.383 Beginning retained earnings Revenues for the period Expenses for the period 1.550 Dividends declared
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