The Balance in Retained Earnings at the Beginning of the Year

question 79

Multiple Choice

The balance in Retained Earnings at the beginning of the year was $950,000, and there were no dividends in arrears. Net income for 2009 was $980,000. What was the amount of dividend declared on each share of common stock during 2009?

• A) $2.50.
• B) $2.08.
• C) $2.00.
• D) $2.68.