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11. On 12/31/18, Hite Industries reported retained earnings of $475,000 on its balance sheet, and...

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Finance

11. On 12/31/18, Hite Industries reported retained earnings of $475,000 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its previous balance sheet, at 12/31/17, the company had reported $445,000 of retained earnings. No shares were repurchased during 2018. How much in dividends did the firm pay during 2018?

Select one:

a.$124,950

b.$127,050

c.$82,950

d.$111,300

e.$105,000

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