How much of the net income was distributed

Reference no: EM131924937

Question: During 2015 a company generated $15,000,000 in sales and had total operating and depreciation expenses of $9, 500,000. Interest expense was $500,000. If this company's tax rate is 35% and the retained earnings increased by $2,000,000, then how much of the net income was distributed to shareholders as dividends?

Reference no: EM131924937

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