The Phillip Edwards Co

question 318

Multiple Choice

The Phillip Edwards Co. has net income of $2,460 for the current year. During the year, the common stock account increased in value by $1,500 and retained earnings increased by $350. What is the amount the firm paid in dividends to its shareholders during the year?

• A) $350
• B) $380
• C) $610
• D) $2,110
• E) $2,810

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