The Balance Sheet of Old Gold Mines for the Year

question 106

Multiple Choice

The balance sheet of Old Gold Mines for the year ended June 30, 20x2, showed a balance in retained earnings of $6,000 million at the end of 20x2 and $4,600 million at the end of 20x1.Net income for 20x2 was $2,400, million.Compute the amount of dividends Old Gold Mines declared during 20x2.

• A)$500 million
• B)$1,000 million
• C)$1,500 million
• D)$2,000 million
• E)$2,500 million

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