Can someone help me with this accounting problem?
The Kroger Co. is one of the largest retailers in the United States and also manufactures and processes some of the food for sale in its supermarkets. Kroger reported the following January 31 balances in its stockholders’ equity accounts (dollars in millions):
Common stock $955 $947
Paid-in capital $3,266 $3,031
Retained earnings $7,489 $6,480
During the current year, Kroger reported net income of $1,249.
(The first column is the current year and the second column is the previous year)
How much did Kroger declare in dividends for the year?
Can someone please explain how to do this?
- Don GLv 78 years agoFavorite Answer
Beginning balance 6,480
Plus Net Income 1,249
Less Dividends Declared ?
Ending Balance 7,489
Dividends Declared = 240