A company provides the following financial information related to its retained earnings. (All dollar amounts in...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A company provides the following financial information related to its retained earnings. (All dollar amounts in thousands.) • Retained earnings balance as of January 1, 2020: $41,440 • Net sales for year 2020: $9,117 Net income for year 2020: $1,823 Dividends paid to shareholders in year 2020: $447 For year 2021, net income is forecasted to be $1,865. What is the forecasted amount of dividends paid to shareholders in year 2021 (in thousands)? A company provides the following financial information related to its retained earnings. (All dollar amounts in thousands.) • Retained earnings balance as of January 1, 2020: $41,440 • Net sales for year 2020: $9,117 Net income for year 2020: $1,823 Dividends paid to shareholders in year 2020: $447 For year 2021, net income is forecasted to be $1,865. What is the forecasted amount of dividends paid to shareholders in year 2021 (in thousands)?
Expert Answer:
Answer rating: 100% (QA)
Well need to calculate the change in retained earnings for the previous year 2020 to determine the f... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
Students also viewed these accounting questions
-
Refer to the fiscal year 1990 financial statement of Abercrombie & Fitch Co. Note: the fiscal year 1999 Refers to the year that began on February 1, 1998, and January 30, 1999. Process: A. Open...
-
Kalex Inc, a CCPC, was incorporated in 2019 and selected a December 31 taxation year end. Kalex is a family-owned company with four equal shareholders, all of whom are siblings. The company employs...
-
Annapolis Company purchased a $2,000, 7%, 9-year bond at 99 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received...
-
How much time does it take to call functions such as Math. \(\sin ()\), Math. \(\log ()\), and Math.sqrt()?
-
Sheet steel emerging from the hot roll section of a steel mill has a temperature of 1200 K, a thickness of ? = 3 mm, and the following distribution for the spectral, hemispherical emissivity. The...
-
Calculate all the ratios 1) Amount Change and % change from Year 2000 to Year2001 2) Current ratio, Acid Test Ratio, A/R turn-over, Avg collection period, Solvency Ratio, profit ratio for Year2001)...
-
You are considering accepting a job at Big Business Corporation. As a condition of employment, you must sign a covenant not to compete with Big Business in which you agree that when your employment...
-
Robert, a new client of yours, is a self-employed caterer in Santa Fe, New Mexico. Robert drives his personal van when delivering catered meals to customers. You have asked him to provide the amount...
-
Write the function sum2.m that accepts a matrix m and returns the summation of the positive numbers and the summation of the negative numbers in m. The outputs are sum_p, and sum_n. Use the function...
-
One of PLEs manufacturing plants supplies various engine components to manufacturers of motorcycles on a just in time basis. Planned production capacity for one component is 100 units per shift, and...
-
What are the factors you need to consider in understanding the business? Explain.
-
In what ways and to what extent do you think that non-store retailing poses a threat to conventional retailers?
-
What kind of market coverage strategy might be appropriate for the following, and why: (a) a bar of chocolate; (b) a toothbrush; (c) a home computer; (d) a marketing textbook.
-
Discuss Ritsons (2010) view that social media represent a new and relatively insignificant communications tool that has limited potential for a very small proportion of brands.
-
Find a current advertising campaign that uses both television and online media. Why do you think both media are being used? To what extent is each medium contributing something different to the...
-
Choose three different brands of shampoo that you think incorporate different core products. (a) Define the core product for each brand. (b) How does the tangible product for each brand reflect the...
-
The average SAT score of students at NYU is 1340. Dr. Mazza believes this is incorrect. What is the alternative hypothesis Oa> 1340 Obu 1340 OCH <1340 Odu=1340
-
A 20-cm-square vertical plate is heated to a temperature of 30oC and submerged in glycerin at 10oC. Calculate the heat lost from both sides of the plate.
-
Explain how a career in public accounting differs from a career in private accounting.
-
Explain straight-line, units- of-production, and double-declining-balance depreciation. When is it appropriate to use each of these depreciation methods?
-
The following information was drawn from the year-end balance sheets of Mass Trading Company: The following is additional information regarding transactions that occurred during Year 2: 1. Investment...
-
True or False: Build-Operate-Transfer (BOT) makes use of a public-private partnership.
-
Do an Internet search on "build operate transfer." Identify a BOT project, preferably from your home continent (e.g., AF, AS, EU, Pacific, NA, SA), and copy a small portion of what you find (a page...
-
Using an Internet-based search on 'build operate transfer," find an additional definition from a source other than used in Section 14.2. Copy and paste it, as well as any graphics, examples,...
Study smarter with the SolutionInn App