Question

The shareholders' equity of ilp industries includes the items shown below. the board of directors of ilp declared cash dividends of $68 million, $120 million, and $350 million in its first three years of operation–2024, 2025, and 2026, respectively. What is the total amount of cash dividends declared by ilp industries in the first three years of operation?

1) $68 million
2) $120 million
3) $350 million
4) Cannot be determined

Answer 1

The total amount of cash dividends declared by ILP Industries in the first three years of operation is $538 million.

Step-by-step explanation:

The total amount of cash dividends declared by ILP Industries in the first three years of operation can be calculated by adding up the cash dividends for each year:

1. Cash dividend declared in 2024: $68 million
2. Cash dividend declared in 2025: $120 million
3. Cash dividend declared in 2026: $350 million

To find the total amount, we add these values together: $68 million + $120 million + $350 million = $538 million.

Therefore, the total amount of cash dividends declared by ILP Industries in the first three years of operation is $538 million.