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Find what was the addition to retained earnings last year

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Reference no: EM132482997

Point 1: Last year Momcorp had an operating profit of $600,000 and paid $50,000 in interest expenses. The applicable income tax rate for the year was 34 percent. The company had 100,000 shares of common stock outstanding at the end of last year.

Earnings per share= $3.63

Question 1: If the company paid $1.00 per share to its common stockholders, what was the addition to retained earnings last year?

Reference no: EM132482997

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