8. Guyman Co. had taxable income of $100,000 and an average tax rate of 21%. After calculating its net income, it added $30,000 to retained earnings. How much was the dividend it paid to its shareholders?

 

Transcribed Image Text:

8. Guyman Co. had taxable income of $100,000 and an average tax rate of 21%. After calculating its net income, it added $30,000 to retained earnings. How much was the dividend it paid to its shareholders?

Expert Answer

To calculate the amount of dividends paid, we need to first determine the amount of inco View the full answer