The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31,2016 and 2015,reported the following data:
During 2016,Time declared and paid cash dividends of $90 million.The company also declared and issued a stock dividend.No other changes occurred in shares outstanding during 2016.What was Time's net income for 2016?

Question

The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31,2016 and 2015,reported the following data: 
During 2016,Time declared and paid cash dividends of $90 million.The company also declared and issued a stock dividend.No other changes occurred in shares outstanding during 2016.What was Time's net income for 2016?

Quizplus · Accepted Answer

The Answer of The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31,2016 and 2015,reported the following data: 
During 2016,Time declared and paid cash dividends of $90 million.The company also declared and issued a stock dividend.No other changes occurred in shares outstanding during 2016.What was Time's net income for 2016?

The Shareholders' Equity Section of Time Company's Comparative Balance Sheets