Canadian Tire Corporation, Limited reported net income of $735.9 million for the year ended January 2, 2016.

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Canadian Tire Corporation, Limited reported net income of $735.9 million for the year ended January 2, 2016. Its retained earnings were $4,075.1 million at the beginning of the year and $4,172.0 million at the end of the year. It had no dividends payable at the beginning or end of the year. Assuming no other changes to retained earnings, what amount of dividends did Canadian Tire pay during the year? Would your answer change if you knew that the Dividends Payable account increased during the year?
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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119368458

7th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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