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Determine the maximum dividend payable

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Question - Shuttleworth Co. has $100,000 of assets, financed entirely by common shares and retained earnings.  The operating profit was $40,000, and tax was paid on the profits at the rate of 25%. There was $50,000 of retained earnings before adding the net income for the current year. Determine the maximum dividend payable?

Reference no: EM133092308

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