Question: Applying Financial Statement Relations to Compute Dividends Assume Colgate-Palmolive reports the following dollar balances in its retained earnings account. ($ millions) 2015 2014 Retained earnings

Applying Financial Statement Relations to Compute Dividends Assume Colgate-Palmolive reports the following dollar balances in its retained earnings account.

($ millions)	2015	2014
Retained earnings	$19,638	$19,165

During 2015, Colgate-Palmolive reported net income of $2,239 million. a. What amount of dividends, if any, did Colgate-Palmolive pay to its stockholders in 2015? $Answer million b. What percent of its net income did Colgate-Palmolive pay out as dividends in 2015? Round to the nearest whole percentage. Answer%

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