Ultra Inc. had $100 million in retained earnings at the beginning of the year. During the year,

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Ultra Inc. had $100 million in retained earnings at the beginning of the year. During the year, the firm paid $0.25 per share dividend and generated $2.00 earnings per share. The firm has 10 million shares outstanding. At the end of year, what was the balance of retained earnings?

$145 million

$117.5 million

$100 million

$120 million

Posted Date: May 19, 2024 03:04 PM

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Ultra Inc. had $100 million in retained earnings at the beginning of the year. During the year,

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