The following data were reported in the shareholders equity section of the Zhang Companys comparative balance sheets
Fantastic news! We've Found the answer you've been seeking!
Question:
The following data were reported in the shareholders’ equity section of the Zhang Company’s comparative balance sheets for the years ended December 31:
| ($ in millions) | ||
|---|---|---|
| 2024 | 2023 | |
| Common stock, $ 1 par per share | $ 306 | $ 300 |
| Paid-in capital – excess of par | 174 | 150 |
| Retained earnings | 314 | 300 |
During 2024, Zhang declared and paid cash dividends of $45 million. The company also declared and issued a stock dividend. No other changes occurred in shares outstanding during 2024. What was Zhang’s net income for 2024?
Expert Answer:
To determine Zhang Companys net income for 2024 we need to consider the change... View the full answer
Related Book For 
Posted Date:
