On 12/31/12, Hite Industries Reported Retained Earnings of $525,000 on Its

On 12/31/12, Hite Industries reported retained earnings of $525,000 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its previous balance sheet, at 12/31/11, the company had reported $445,000 of retained earnings. No shares were repurchased during 2012. How much in dividends did the firm pay during 2012?

A) $49,638
B) $52,250
C) $55,000
D) $57,750
E) $60,638

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free