Below is the common equity section (in millions) of Timeless Technology's last two year-end balance sheets: $\begin{array}{ll}
&\underline{2013} & \underline{2012}\
\text {Common stock}&\$2,000&\$1,000\
\text { Retained earnings }&\underline{2,000} & \underline{2,340}\
\text {Total common equity}&\underline{\$4,000}&\underline{3,340}
\end{array}$ The firm has never paid a dividend to its common stockholders. Which of the following statements is CORRECT?

Question

Below is the common equity section (in millions) of Timeless Technology's last two year-end balance sheets: $\begin{array}{ll}
&\underline{2013} & \underline{2012}\
\text {Common stock}&\$2,000&\$1,000\
\text { Retained earnings }&\underline{2,000} & \underline{2,340}\
\text {Total common equity}&\underline{\$4,000}&\underline{3,340}
\end{array}$   The firm has never paid a dividend to its common stockholders. Which of the following statements is CORRECT?

Quizplus · Accepted Answer

The Answer of Below is the common equity section (in millions) of Timeless Technology's last two year-end balance sheets: $\begin{array}{ll}
&\underline{2013} & \underline{2012}\
\text {Common stock}&\$2,000&\$1,000\
\text { Retained earnings }&\underline{2,000} & \underline{2,340}\
\text {Total common equity}&\underline{\$4,000}&\underline{3,340}
\end{array}$   The firm has never paid a dividend to its common stockholders. Which of the following statements is CORRECT?

Below Is the Common Equity Section (In Millions) of Timeless