Ocean Terminal Company Limited started its business in 2014 with retained earnings of $68,450,000. It paid two

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Ocean Terminal Company Limited started its business in 2014 with retained earnings of $68,450,000. It paid two semiannual dividends of $0.23 per share to 3,250,000 preferred stockholders during the year. Common stockholders, holding 9,800,000 common shares, were paid four quarterly dividends of $0.25 per share. The company had a net profit after taxes of $6,340,000. Prepare the statement of retained earnings for the year ended December 31, 2014.

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Principles Of Managerial Finance

ISBN: 9781292018201

14th Global Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

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