How many dollars would go to retained earnings

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Reference no: EM131962707

Everdeen Mining , Inc., ended 2015 with net profits before taxes of $ 439,000. The company is subject to a 40% tax rate and must pay $ 63,000 in preferred stock dividends before distributing any earnings on the 179,000 shares of common stock currently outstanding. If the firm paid common stock dividends of $ 0.83$0.83 per share, how many dollars would go to retained earnings?

Reference no: EM131962707

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