ddends of 50 78 per share. The frm had a net crot aer tases of 55 29 mison Prepa

ID: 1172232 • Letter: D

Question

ddends of 50 78 per share. The frm had a net crot aer tases of 55 29 mison Prepare the statement of reaned ings tor the year ended Decenber 31, 2015 Complete the statement of retained earnings below (Round to the nearest dollar ) Cooper Industries, Inc Statement of Retained Eansings for the Year Ended December 31, 2015 Renaned earnings balance (January 1, 2015) Pus Net prots aner taxes (or 2015) Less Cash dvidends (paid during 2015) Preferned stock Common sock Total dividends paid Retained earmings batance (December 31, 2015

Explanation / Answer

Cooper Industries Inc

Statement of Retained Earnings

For the year ended December 31, 2015

Retained Earnings Balance (January 1,2015)

$25.33 Million

Plus : Net Profit After Tax for 2015

$5.29 Million

Less : Cash Dividends paid (During 2015)

Preferred Stock [ (520000 Shares x $$0.78) / 10,00,000 ]

$0.95 Million

Common Stock [ 3.05 Million shares x $0.31)

$0.41 Million

Total Dividend Paid

($1.36 Million)

Retained Earnings Balance (December 31, 2015 )

$29.26 Million