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2 February, 18:16

On 12/31/2015, Heaton Industries Inc. reported retained earnings of $675,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/2014, the company had reported $555,000 of retained earnings. No shares were repurchased during 2015. How much in dividends did Heaton pay during 2015

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  1. 2 February, 18:31
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    Heaton paid a total of $52,500 as dividend during 2015

    Explanation:

    Dividends in 2015 = Previous year retained earnings - Current year retained earnings + Current year net income

    Dividends in 2015 = 555,000 - 675,000 + 172,500

    Dividends in 2015 = $52,500

    Heaton paid a total of $52,500 as dividend during 2015
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