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

question 85

Multiple Choice

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

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Definitions:

DSM-5

The fifth edition of the Diagnostic and Statistical Manual of Mental Disorders, a comprehensive classification of mental health conditions published by the American Psychiatric Association.

Restricting Type

A subtype of anorexia nervosa characterized by severe limitation of calorie intake without engaging in binge-eating or purging behavior.

Excessive Exercise

Physical activity that is beyond what is considered healthy or normally recommended, often leading to physical and psychological complications.

Body Dysmorphic

A mental disorder characterized by obsessive thinking about a perceived flaw in one's physical appearance.