Find the increase in retained earnings for the year

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Reference no: EM131969594

Question: Elite Trailer Parks has an operating profit of $283,000. Interest expense for the year was $37,900; preferred dividends paid were $31,000; and common dividends paid were $39,000. The tax was $63,600. The firm has 17,800 shares of common stock outstanding.

a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. (Round your answers to 2 decimal places.)

b. What was the increase in retained earnings for the year?

Reference no: EM131969594

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