Given the information below about Thomas Corporation,what was the amount of dividends the company paid in the current period? $$\begin{array} { | l | r | }
\hline \text { Beginning retained earnings } & \$ 54,000 \
\hline \text { Ending retained earnings } & \$ 110,000 \
\hline \text { Decrease in cash } & \$ 10,000 \
\hline \text { Net income } & \$ 84,000 \
\hline \text { Change in stockholders' equity } & \$ 15,000 \
\hline
\end{array}$$
A)$13,000.
B)$110,000.
C)$28,000.

Question

Given the information below about Thomas Corporation,what was the amount of dividends the company paid in the current period? $$\begin{array} { | l | r | } 
\hline \text { Beginning retained earnings } & \$ 54,000 \
\hline \text { Ending retained earnings } & \$ 110,000 \
\hline \text { Decrease in cash } & \$ 10,000 \
\hline \text { Net income } & \$ 84,000 \
\hline \text { Change in stockholders' equity } & \$ 15,000 \
\hline
\end{array}$$
A)$13,000.
B)$110,000.
C)$28,000.

Quizplus · Accepted Answer

The amount of dividends paid can be calculated using the formula: Beginning Retained Earnings + Net Income - Dividends = Ending Retained Earnings. Rearranging the formula to solve for dividends gives: Dividends = Beginning Retained Earnings + Net Income - Ending Retained Earnings. Substituting the given values: Dividends = $54,000 + $84,000 - $110,000 = $28,000.

Given the Information Below About Thomas Corporation,what Was the Amount