The Balance in Retained Earnings at the Beginning of the Year

question 109

Multiple Choice

The balance in Retained Earnings at the beginning of the year was $2,710,000, and there were no dividends in arrears. Net income for 2009 was $2,250,000. What was the amount of dividend declared on each share of common stock during 2009?

• A) $1.30.
• B) $2.40.
• C) $1.21.
• D) $3.72.

---

Definitions:

Teamwork

The cooperative effort of a group of people working towards a common goal.

Virtual Team

A virtual team is a group of individuals who work together from different geographic locations and rely on communication technology to collaborate.

Technology, Time, Techniques

Technology, time, techniques encapsulate the essential components required to enhance productivity and efficiency in various processes and operations.

Desktop Videoconferencing Systems

Technology platforms that enable individuals to engage in face-to-face meetings via their computers or desktop devices, typically incorporating audio and visual components.