Question

($ in millions) Net sales $ 10,500 Cost of goods sold 7,950 Depreciation 370 Earnings before interest and taxes $ 2,180 Interest paid 100 Taxable income $ 2,080 Taxes 624 Net income $ 1,456 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 370 $ 390 Accounts payable $ 1,910 $ 1,800 Accounts rec. 1,110 1,010 Long-term debt 1,070 1,530 Inventory 1,880 1,770 Common stock 3,360 3,140 Total $ 3,360 $ 3,170 Retained earnings 650 900 Net fixed assets 3,630 4,200 Total assets $ 6,990 $ 7,370 Total liab. & equity $ 6,990 $ 7,370 What were the total dividends paid for 2017?

Answer 1

What were the total dividends paid for 2017?

1206

Step-by-step explanation:

Balance

2016 2017

Cash 370 390

Account receivable 1110 1010

Inventory 1880 1770

net fixed assets 3630 4200

6990 7370

Account Payable 1910 1800

Lon term debt 1070 1530

Common stock 3360 3140

Retaining earnings 650 900

6990 7370

Net income 1456

Increase retained earnings 250

Dividens 1206