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Question 12 0/7 points The year-end 2016 balance sheet for Tom's Copy, Inc. lists common stock ($1.00 par value) of 5,181, capital surplus of $ 15,592 and retained earnings of $ 48,710. On the 2017 year-end balance sheet, retained earnings are listed as $50,531. The firm's net income in 2017 was $ 6,174.No stock was issued or repurchased in 2017. What were dividends per share paid by the firm in 2017? Record your answer rounded to the nearest cent. Do not include a dollar sign or commas in your answer. For example, record $10.248976 as 10.25.</font color> Answer: 0.35 x (0.84) Question 13 7 /7 points
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Ans. Dividend per share = Total dividends / No. of shares outstanding 4353 / 5181 0.84 per share *Calculation of total dividends: Beginning Retained earnings (2016) 48710 Add: Net income 6174 Less: Ending Retained earnings (2017) -50531 Dividends 4353 *Calculation of No. of shares outstanding: No. of shares = Common stock / Par value 5181 / 1 5181 shares
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