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Determine if the firm paid dividends and if so how much

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Reference no: EM132652239

Problem 1: The firm's 2011 Retained Earnings account was $200,000. Their 2012 Retained Earnings was $250,000. They had Revenue of $150,000; General Expenses of $35,000; and Interest Expense of $15,000. They are in the 34% tax bracket. Determine if the firm paid dividends and if so how much.

Option 1: The firm did not pay dividends

Option 2: The firm paid dividends in the amount of $16,000

Option 3: The firm paid dividends in the amount of $25,900

Option 4: there is not enough information to determine if the firm paid dividends

Reference no: EM132652239

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