Which of the following statements is correct for a firm with 100,000 outstanding shares and earnings per share of $6 if retained earnings were just adjusted downward by $50,000?
A) A $5.50 dividend per share was paid
B) A $6.50 dividend per share was paid
C) Net earnings equal $650,000
D) Total dividends paid equal $50,000 retained earnings = net income less dividends
($50,000) = ($6 x 100,000) less dividends
$450,000 = dividends
Correct Answer:
Verified
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